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put an order at 0.0015. donot know whether it could get through since it stayed there for a while.
Posts: 221 | From: kentucky | Registered: Apr 2006
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Cambodian Ventures Limited Signs Memorandum of Understanding With TTY Corporation
2006-06-08 06:00 ET - News Release
LOWELL, MA and PHNOM PENH, CAMBODIA -- (MARKET WIRE) -- 06/08/06
Cambodian Ventures Limited (PINKSHEETS: CMBV) announced today that it has signed a Memorandum of Understanding with TTY Corporation of Cambodia to develop two potential gold mining sites in the Snoul District of the Kratie province in the Kingdom of Cambodia. These sites are known as Srei Char and Svay Cras. The Srei Char site is one of the most well-known in Cambodia and was previously called Srei Ja.
TTY Corporation is a wholly owned Cambodian Industrial Company with multiple business interests in Cambodia's natural resource sector. With an experienced management team, strong network of partnerships, and over 500 total employees, the company is an experienced leader in the fields of mining, rubber production and agricultural processing.
Cambodian Ventures has reviewed a geology report of the Srei Char site. The report states that vein material returned assay results translating into 40 to 50 grams of gold per ton. In addition, twelve "grab" samples from three different areas in the site showed concentrations of gold of up to 18 grams per ton.
The report also confirms that there are numerous trenches, pits and excavations already on the Srei Char site distributed over an area of 4 hectares and that a number of shafts that have been excavated to the water table (3-4 meters) and worked laterally under the residual soil cover.
Overall the report deemed both the Srei Char and the Svay Cras sites as "significant prospects" and "worthy of following up with a systematic testing of the site and surrounding areas."
Gary Fineberg, CEO of Cambodian Ventures Limited, stated: "We are very excited to be working with TTY Corporation on these two promising sites. Srei Char shows tremendous potential based on previous analysis. While currently not as much data is available on Svay Cras, there has been significant artisinal mining performed on that site, leading us to believe there is also much potential there."
Over the next month Cambodian Ventures expects to bring in its own geologist to analyze both sites for further exploration and mining potential. TTY Corporation will grant Cambodian Ventures full usage of its construction equipment already present at both sites. The two companies will then further negotiate a definitive breakdown of percentages each will yield from the mined precious minerals from each site in a Joint Venture Agreement.
Safe Harbor Statement: The statements, other than the statements of historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.
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Cambodian Ventures Prepares for Joint Venture on Gold Mining Sites Jun 16, 2006 9:17:00 AM LOWELL, MA and PHNOM PENH, CAMBODIA -- (MARKET WIRE) -- 06/16/06 -- Cambodian Ventures Limited (PINKSHEETS: CMBV) is pleased to announce that the Company is making significant progress towards signing a definitive joint venture agreement with TTY Corporation of Cambodia to develop two gold mining properties in Kratie Province, Kingdom of Cambodia.
Mr. Gary J. Fineberg, President of Cambodian Ventures, accompanied by Mr. Trevor Burns, President of Tiger Capital, recently met with the President of TTY Corporation to discuss the next steps to be taken to develop TTY's gold properties. Mr. Fineberg and Mr. Burns also had the opportunity to tour TTY's facilities and operations and tour the mining sites.
"I am very pleased with the way discussions are proceeding with TTY. Both parties are keen to move forward as rapidly as possible. We are presently making arrangements to have a geologist come to Cambodia to prepare a feasibility report on both sites. Once the report is completed and assuming it is favorable, I am confident that a joint venture agreement will be consummated shortly thereafter," stated Mr. Fineberg.
"I am impressed with TTY's businesses and the gold sites. TTY is a very substantial company in Cambodia in the areas of agriculture and mining. The two gold sites are both easily accessible by roads and both show a history of mining activity," stated Mr. Burns.
"I am pleased to learn while here that Cambodian Ventures has several other exciting opportunities to explore. Furthermore, a large Australian mining company is now preparing to make a significant investment in six other gold properties in Cambodia, validating Cambodian Ventures' belief that tremendous mining opportunities exist in this country," added Mr. Burns.
About Cambodian Ventures
The mission of Cambodian Ventures Limited is to obtain licenses for the exploration and mining of precious minerals in Cambodia. The Company intends to carry out exploration activities in regions containing gold and other precious minerals. It is Management's opinion that high-quality minerals such as gold, zinc and other resources in Cambodia are largely untapped and that a significant opportunity exists for their development.
Safe Harbor Statement: The statements, other than the statements of historical facts may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.
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