Quadrant Resources Announces Update Regarding Investment Opportunities in India.VANCOUVER, British Columbia--(BUSINESS WIRE)--Dec. 8, 1999-- Following a recent trip to India by two directors, Quadrant quadrant, in analytic geometry quadrant. 1 In analytic geometry, one of the four regions of the plane determined by two lines, the x-axis and the y-axis. Resources Corp. (Pink Sheets:QRCS)(CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. :QRCS), wishes to announce the following update regarding its investment opportunities in India: 1. Further to its news release dated July 6th, 1999, the Company's joint venture with MESCO MESCO Marine Equipment and Supply Company MESCO Multan Electricity Supply Company (Pakistan) MESCO Manhattan Electric Supply Company Steels Limited for the development of an iron ore deposit in the state of Orissa continues to move forward. A contract has been awarded to M. N. Dastur A dastūr is a Zoroastrian high priest who has authority in religious matters and ranks higher than a Mobad or Herbad. In modern usage the term dastūr refers mostly to Parsi priests in India. Boyce, Mary (2001). Zoroastrians, their religious beliefs and practices. , an Indian engineering company with extensive international expertise in the mining industry, for a pre-feasibility study and marketing study. Tenders have also been received and reviewed for a drilling program, the data of which will augment information received from the Geological Survey of India Geological Survey of India (GSI), established in 1851 is a government organization in India for conducting geological surveys and studies. It is one of the oldest of such organizations in the world. and assist in the design of the mine. Drilling is expected to begin next month. 2. Directors of the Company held discussions recently with representatives of Nepal Metal Company Limited regarding a zinc and lead deposit which has been the subject of a number of comprehensive studies sponsored in part by the United Nations and the Government of Nepal. The deposit is located in the Central Nepal Himalayas. Nepal Metal and its consultant, MECON Limited, believe a relatively new process for leaching leaching, method of extraction in which a solvent is passed through a mixture to remove some desired substance from it. A simple example is the passage of boiling water through ground coffee to dissolve and carry out the chemicals necessary for producing the beverage. zinc can be applied to the ore from this deposit. The Company plans to sign a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with Nepal Metals and MECON to further investigate the merits of the project. 3. An owner of an iron ore mine located in Goa met with directors of the Company to discuss the possibility of investing in a project to re-open and increase production of the mine. The owner believes a current long-term contract to supply a Japanese steel mill and its own estimates of the mine's reserves support a plan to restructure the company with the help of outside investors. Quadrant has agreed to sign a Memorandum of Understanding to more thoroughly review the project. 4. Directors of the Company met with the owners of a calcium carbonate carbonate (kär`bənāt', –nət), chemical compound containing the carbonate radical or ion, CO3−2. Most familiar carbonates are salts that are formed by reacting an inorganic base (e.g. plant located in the state of Uttar Pradesh Uttar Pradesh (  `tär prä`dĭsh), state (2001 provisional pop. 166,052,859), 92,804 sq mi (240,363 sq km), N central India. The capital is Lucknow. . The plant, with a current capacity of 20,000 tons per year, was commissioned in 1989 with surplus power generating capacity. The owner now intends to utilize this spare capacity and double the output of the plant with financial assistance from investors. The Company will sign a Memorandum of Understanding with the owner to assess the merits of the expansion. 5. In September, the Company signed a Memorandum of Understanding with an organization to jointly study a limestone deposit located in the state of Haryana. The site was recently visited by directors of Quadrant and, after reviewing an initial assessment prepared by the owner, a plan was agreed to on the best way to evaluate the deposit. It was concluded that proposals will be solicited from consulting companies Noun 1. consulting company - a firm of experts providing professional advice to an organization for a fee consulting firm business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a for determining the size of the deposit, the costs of establishing a mine and removing the ore and the projected revenue. The results of these proposals will determine the next step of our assessment. 6. The Company has identified a paper manufacturing plant located in the state of Punjab, the owners of which have developed plans to expand the plant's product line. The owners are seeking investors or joint venture partners to financially participate in the expansion of the plant. Quadrant directors toured the plant, reviewed the expansion plans and intend to examine the proposal in greater detail. 7. The directors of Quadrant have been made aware of a Government of India program which, in order to help finance conventional infrastructure projects, seeks private sector participation in such projects. The concept calls for private companies to build, operate and eventually transfer ownership to the government (hence the program's initials "B.O.T."), projects such as bridges, highways and overpasses. Private enterprise finances and builds projects at locations identified by the government and recovers its investment by way of tolls. At some pre-established future date, the ownership of the structure is transferred to the government. The Company has identified one such project which it will evaluate. This news release should be read in conjunction with previously issued press releases. Investors should note that the Company relies on raising funds through equity issuance In financial markets, an Equity Issuance is the sale of new equity or "stocks" by a firm to investors. Equity Issuance can involve a private sale, in which the transaction between investors and the firm takes place directly, or publicly, in which case the firm has to of shares. Investors should be aware of the risks associated with these types of financings. This press release contains certain forward looking statements. Forward looking statements, by their very nature, carry associated risks, especially risks concerning the possibility that some or all events envisaged in such statements will not materialize ma·te·ri·al·ize v. ma·te·ri·al·ized, ma·te·ri·al·iz·ing, ma·te·ri·al·iz·es v.tr. 1. To cause to become real or actual: By building the house, we materialized a dream. in the future. The Company relies on litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. protection for forward looking statements. "Allison Eaton" Allison Eaton, President |
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