Consolidated Silver Tusk Mines, Ltd. Corporate Update.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia--(BUSINESS WIRE)--Nov. 8, 1999-- The Board of Directors of Consolidated Silver Tusk Mines, Ltd., (VSE See DOS/VSE. VSE - Virtual Storage Extended :CKS CKS Checks CKS Center for Korean Studies (UC Berkeley) CKS Center for Knowledge Societies CKS Carajas, Para, Brazil - International / Brasilia Brazil (Airport Code) CKS Crankshaft Sensor ) is pleased to announce the following changes that have taken place, and that will continue to have a positive effect on the Company's mining operations and activities in Indonesia. New Indonesian Structure. During the first week of November, CKS management re-visited Indonesia and successfully negotiated and executed new Agreements with the mineral rights owners of the property, PT Karya Bukit Utama (KBU KBU Københavns Bowling Union (Denmark) KBU Key Business User ), and the new CKS associate in Indonesia PT Gading Emas Minerindo (GEM). CKS has replaced its former Indonesian associate, PT Metro Astatama, with GEM under the new Mineral Operations Agreement. Robert Needham and William Van der Merwe who were instrumental in the negotiations which resulted in this Agreement, have ensured a much needed, streamlined control over the mining operations and activities of CKS, through GEM in Indonesia, as well as most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent" above all, most especially , reducing the outstanding property payments by almost 40% from an original USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $ 4,900,000 to USD$ 3,000,000, effective immediately, which has resulted in a savings of USD$ 1,900,000. This new corporate and contractual structure that CKS management has put into place, will afford shareholders the best possible legally sound and controlled position available under current Indonesian law, for the immediate future. These savings referenced above form part of CKS management's corporate plan to re-structure and eliminate unnecessary and undesirable overheads. This, together with the appointment of acceptable mine management on site will ensure that the Company will achieve its goal of entering into production at the mine site prior to year-end. Political and Economic Climate in Indonesia. Despite the unrest Unrest is a sociological phenomenon, for instance:
The political and economic environment in Indonesia received a positive boost during the month of November, with the appointment of a new President, Vice-President and cabinet. A positive mood and spirit of cooperation is apparent in Indonesia, and this will undoubtedly have a pro-active pro·ac·tive or pro-ac·tive adj. Acting in advance to deal with an expected difficulty; anticipatory: proactive steps to prevent terrorism. effect on CKS business interests in Indonesia. A full overview on this subject titled "CIBDO News" can be accessed through the Company's website at www.silvertusk.com. The Board would like to take this opportunity to thank its loyal shareholders for their continued support. William Van der Merwe. Vice President - Finance & Administration. Please direct all investor relations' questions to Mr. William Van der Merwe on 561/883-5728 at his Florida office, or contact the Vancouver office on 604/602-1088. THE VANCOUVER STOCK EXCHANGE Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENTS OF THIS NEWS RELEASE. |
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