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Weda Bay Minerals Inc. Releases Third Quarter Report.

Publication: Business Wire
Publication Date: 15-NOV-05 		Format: Online - approximately 840 words
Delivery: Immediate Online Access

Article Excerpt
TORONTO -- The Board of Directors of Weda Bay Minerals Inc. (TSX:WDA) (the "Company") today released the Company's third quarter report to September 30, 2005.

Cash balances at the end of the third quarter totalled $9,065,628 compared to $1,982,791 at December 31, 2004. At September 30, 2005 a working capital surplus (current assets less current liabilities) of $8,608,800 was available due to the two placements completed during this quarter. Through the placements the Company issued 17,500,000 Units for gross proceeds of $12,675,000. Each Unit consisted of one common share of the Company and one-half of one common share purchase warrant. Share issue costs incurred in connection with the two placements totalled $1,456,197 and included $513,309 in value ascribed to the broker warrants issued as part...

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