PLEASE, SET A BOOKMARK! This page is hard to find in the jungle. Hit your "reload"-button whenever you return to make sure that your browser loads the last update (and not a cached version). And - by the way: Any kind of reaction, feedback, information and whatever re this site is highly appreciated!

EARLY MORNING MARKET MONITOR I�m Back! - Update currently in progress! Stay tuned. S. Africa Iscor Sells Offshore Exploration To AfricWest Gold JOHANNESBURG (Dow Jones)--South Africa's Iscor Ltd. (O.ISC), a diversified steel and mining group, has divested all of its offshore exploration activities to Perth-based AfricWest Gold NL., the group said Wednesday. Iscor's gold exploration licenses in Tanzania, Uganda, the South Pacific region and Kazakstan will be placed in the Australia-listed company, said Iscor in a statement. The South African group will receive more than 50 pct of the issued share capital of AfricWest and it will provide "limited underwriting support" over the next 12 months, it said. Iscor will also be granted the right of first refusal on entry into any major discovery made by AfricWest. AfricWest has been active in Africa since 1997 and has Norwegian gold mining company Kenor ASA (Y.KEN), as its major shareholder. "By placing our exploration activities in the hands of a specialist company who will develop all of these as their core business, we will release Iscor from substantial financial commitments in the years to come," Hans Smith, Iscor's chairman said. The disposal is in line with Iscor's strategy of focusing on core activities in iron ore, steel, coal, zinc, copper and titanium dioxide. This transaction strengthens Iscor's presence in Australia where it has a 36 pct interest in Ticor Ltd. (A.TCR), a titanium dioxide, rutile and pigment producer, and Perth-based Hancock Prospecting, which is developing the Hope Downs iron ore deposit in Western Australia. -By Andi Spicer, +27-11-726-7903; aspicerap.org (END) Dow Jones Newswires 07-04-99 PERTH, April 8 AAP Spinifex Gold NL plans to merge with Vancouver listed East Africa Gold Corporation (EAGC) in a move set to give the company control of its Tanzanian gold prospects. Spinifex said it was proposed the merger would entail either a statutory amalgamation of EAGC with a wholly owned subsidiary of Spinifex or a statutory arrangement. The company said a successful merger would help focus market attention on the intrinsic value of the company's assets and provide a stronger negotiating position for prospective investors and joint venture partners. "The merger entity will be able to fast track project exploration and development and deal with on going programs more efficiently and effectively," Spinifex said. "Prospective ground in Tanzania is becoming increasingly difficult to obtain, particularly in the Lake Victoria Goldfields region where in excess of 20 million ounces have been discovered in the past three years." "Existing properties with the potential that is demonstrated by EAGC's projects, which cover in excess of 1,000 square kilometres of greenstone terrain are now at a premium." Spinifex added that three advanced EAGC projects had a resource base of just over one million ounces. The merger of the two companies would also reduce corporate costs, including legal fees and listing costs substantially and enable more funds to be expended on exploration, Spinifex said. Spinifex intends to institute a merger with EAGC as soon as possible with an EAGC shareholders meeting expected to be held no later than August 31. Spinifex shares closed half a cent lower at 13.5 cents on turnover of 44,500 on the Australian Stock Exchange today. AAP jlc