SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D)
of the
SECURITIES EXCHANGE ACT OF 1934
Date of Report: February 27, 1998
PLANET RESOURCES, INC.
(Formerly Allied Silver-Lead Company)
(Exact name of registrant as specified in its charter)
DELAWARE
(Formerly Idaho)
(State or other jurisdiction of incorporation or organization)
1-7149 82-0277987
(Commission File Number) (IRS Employer Identification Number)
C/O A.W. DUGAN
1415 LOUISIANA, SUITE 3100
HOUSTON, TEXAS 77002
(Address of principal executive offices)
(713) 658-1142
(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS.
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The Corporation is considering several exploration projects which require
funds to fully investigate and for due diligence. The Corporation is also
investigating the feasibility of acquiring additional acreage to the south of
its present holdings in the Mullan area. This southern play is based on
information and recommendation from several consulting geologists. Delaware
Royalty Company, Inc., a Delaware corporation, has agreed to purchase 370,000
shares of unregistered common stock to continue the funding of these
activities and the Corporation has agreed to issue and sell to Delaware
Royalty Company, Inc. 370,000 of its authorized common stock against receipt
by the Corporation of the sum of Fifty Five Thousand Five Hundred Dollars
($55,500) in full payment for such shares.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
/s/A.W. Dugan
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A.W. Dugan, President
Date: February 27, 1998
