Fischer-Watt option agreement amended

An option agreement entitling Fischer-Watt Gold (NASDAQ) to purchase the interest of Compania Minerales de Copan S.A. de C.V. in a gold-mining property in Honduras has been amended, Milner Consolidated Silver Mines (ASE) reports.

Milner has a 25.5% interest in Minerales. Also owning a 25.5% stake in Minerales is Madeleine Mines (TSE).

Milner says Fisher-Watt is required to make option payments totalling US$280,000 and to perform certain exploration work by Sept. 1, 1994, to acquire all of the outstanding shares of Minerales, or alternatively to acquire the mine for US$30 million (to be paid in seven instalments; provisions in the agreement could allow for payment in gold).