Spinifex Gold Ltd


The sale of the company’s 45% interest in the share capital of Ikina Reefs Ltd has been completed, with the receipt of 800,000 shares in Lakota Resources Inc as consideration.

St Francis Group Ltd


Austminex NL shareholders have approved the acquisition of the St Francis Coolgardie Assets. The consideration is $250,000 in cash; and (8,000,000 shares in Austminex and then a further $750,000 in cash or shares on or before 31 December 2003; and $750,000 in cash or shares on or before 31 December 2004.

Sub Sahara Resources NL


The sale of the company's 25% interest in the Tanzanian Ilkina Reef Project has been completed with Lakota Resources Inc. Under the terms of the transaction the company received 444,444 Common Shares in Lakota at an issue price of C$1.645 per share valuing the transaction at C$731,110.  Lakota now holds 100% interest of the Ikina Reefs project located along the western boundary of Barrick Gold's Bulyanhulu gold mine in Tanzania.

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