UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB

(Mark One)
[X]  QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES  EXCHANGE ACT
     OF 1934

     For the quarterly period ended March 31, 2000

[_]  TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE EXCHANGE ACT

     For the transition period from ________________ to _________________

     Commission file number 0-27355

CIGMA METALS CORPORATION
(Exact name of small business issuer as specified in its charter)

Florida                                         98-0203244
(State or other jurisdiction of                (IRS Employer Identification No.)
incorporation or organization)

1505 - 1060 ALBERNI STREET, VANCOUVER B.C. CANADA V6E 4K2
(Address of principal executive offices)

(604) 687-4432
(Issuer's Telephone Number)


--------------------------------------------------------------------------------
(Former  name,  former  address and former  fiscal year,  if changed  since last
report)

Check  whether  the issuer  (1) has filed all  reports  required  to be filed by
Section 13 or 15 (d) of the Exchange Act during the  preceding 12 months (or for
such shorter period that the registrant was required to file such reports),  and
(2) has been subject to such filing requirements for the past 90 days.

YES [X] NO [_]

APPLICABLE  ONLY TO  ISSUERS  INVOLVED  IN  BANKRUPTCY  PROCEEDINGS  DURING  THE
PRECEDING FIVE YEARS

Check,  whether the  registrant  filed all documents and reports  required to be
filed by Section 12, 13 or 15 (d) of the Exchange Act after the  distribution of
securities under a plan confirmed by court.

YES [_]  NO [_]

APPLICABLE ONLY TO CORPORATE ISSUERS

State the number of shares outstanding of each of the issuer's classes of common
equity,  as of the latest  practicable  date:  14,000,000 shares of Common Stock
were outstanding as of March 31, 2000.

Transitional Small Business Disclosure Format (check one);

YES [_]  NO [X]

<PAGE>


                            CIGMA METALS CORPORATION

     This quarterly  report contains  statements that plan for or anticipate the
future and are not  historical  facts.  In this  Report  these  forward  looking
statements  are  generally  identified  by words such as  "anticipate",  "plan",
"believe",   "expect",   "estimate",  and  the  like.  Because  forward  looking
statements involve future risks and uncertainties,  these are factors that could
cause actual  results to differ  materially  from the estimated  results.  These
risks and uncertainties are detailed in Part 1 - Financial Information - Item 1.
"Financial Statements", Item 2. "Management's Discussion and Analysis or Plan of
Operation".

The Private  Securities  Litigation  Reform Act of 1995,  which provides a "safe
harbor" for such statements, may not apply to this Report.



                            CIGMA METALS CORPORATION

                                      INDEX

                                                                        Page No.
                                                                        --------

PART I.     Financial Information

Item 1.     Financial Statements
            Consolidated Balance Sheets --                                    3
            March 31, 2000 and December 31, 1999

            Consolidated Statements of Stockholder's Equity --                4
            Three Months Ended March 31, 2000

            Consolidated Statements of Operations --                          5
            Three Months Ended March 31, 2000

            Consolidated Statements of Cash Flows --                          6
            Three Months Ended March 31, 2000

            Notes to Consolidated Financial Statements                        7

Item 2.     Management's Discussion and Analysis of
            Financial Condition and Results of Operations                     9

PART II.    Other Information

Item 1.     Legal Proceedings                                                11

Item 2.     Changes in Securities                                            11

Item 3.     Defaults Upon Senior Securities                                  11

Item 4.     Submission of Matters to A Vote of Security Holders              11

Item 5.     Other Information                                                11

Item 6.     Exhibits and Reports on Form 8-K                                 11

Signatures                                                                   12



                                       2
<PAGE>

CIGMA METALS CORPORATION & SUBSIDIARIES
(An exploration stage enterprise)


<TABLE>
<CAPTION>
Consolidated Balance Sheets
March 31, 2000 and December 31, 1999
(Expressed in US Dollars)                                                    March 31,     December 31,
-------------------------------------------------------------------------------------------------------
                                                                                  2000             1999
-------------------------------------------------------------------------------------------------------
<S>                                                                      <C>              <C>
ASSETS

Current
   Cash                                                                  $     141,093    $     534,108
   Note receivable - related parties                                           317,893           33,000
-------------------------------------------------------------------------------------------------------
                                                                               458,986          567,108


Mineral property rights                                                             --               --
-------------------------------------------------------------------------------------------------------
Total assets                                                             $     458,986    $     567,108
=======================================================================================================

LIABILITIES AND STOCKHOLDERS'S EQUITY

Liabilities

Current
   Accounts payable and accrued liabilities                              $       8,500    $       8,500
-------------------------------------------------------------------------------------------------------


Stockholders' Equity
   Share capital,
         Authorized:
             100,000,000 common shares, with par value of $0.0001 each
         Issued and outstanding:
             14,000,000 common shares (1998 - 7,000,000)                         1,400            1,400
Additional paid in capital                                                     700,200          700,200
Accumulated deficit during exploration stage                                  (251,114)        (142,992)
-------------------------------------------------------------------------------------------------------
Stockholders' equity                                                           450,486          558,608
-------------------------------------------------------------------------------------------------------
Total liabilities and stockholders' equity                               $     458,986    $     567,108
=======================================================================================================
</TABLE>


The accompanying notes are an integral part of these financial statements.


                                       3
<PAGE>

CIGMA METALS CORPORATION & SUBSIDIARIES
(An exploration stage enterprise)

<TABLE>
<CAPTION>
Consolidated Statements of Stockholders' Equity
Period from January 13, 1989 (inception) to March 31, 2000
(Expressed in US Dollars)
----------------------------------------------------------------------------------------------------------------------

                                                Common Stock              Additional                             Total
                                        ---------------------------          Paid-In       Accumulated   Stockholder's
                                            Shares           Amount          Capital           Deficit          Equity
                                        ------------------------------------------------------------------------------
<S>                                     <C>           <C>              <C>              <C>              <C>
Issuance of common stock for
administrative services provided
on August 2, 1981                        1,000,000    $         100    $         900    $          --    $       1,000

Net (loss) for the period                                                                      (1,000)          (1,000)
----------------------------------------------------------------------------------------------------------------------
Balance, December 31, 1991 to 1997       1,000,000              100              900           (1,000)              --

Issuance of common stock for
mineral property rights on
April 2, 1998                            6,000,000              600               --               --              600

Net (loss) for the period                       --               --               --             (600)            (600)
----------------------------------------------------------------------------------------------------------------------

Balance, December 31, 1998               7,000,000              700              900           (1,600)              --

Issuance of common stock for             7,000,000              700          699,300               --          700,000
cash on March 31, 1999

                                                                                                                     -
Net (loss) for the period                       --               --         (141,392)        (141,392)
----------------------------------------------------------------------------------------------------------------------
Balance, December 31, 1999              14,000,000    $       1,400    $     700,200    $    (141,992)   $     558,608

Issuance of common stock
during the 1st quarter of 2000                  --               --               --               --

Net (loss) for the period                                                                    (108,122)        (108,122)
----------------------------------------------------------------------------------------------------------------------
Balance, March 31, 2000                 14,000,000    $       1,400    $     700,200    $    (251,114)   $     450,486
======================================================================================================================
</TABLE>


                                       4
<PAGE>

CIGMA METALS CORPORATION & SUBSIDIARIES
(An exploration stage enterprise)

<TABLE>
<CAPTION>
Consolidated Statements of Operations
(Expressed in US Dollars)
--------------------------------------------------------------------------------------------
                                          January 13, 1989     Three Months     Three Months
                                            (inception) to            Ended            Ended
                                                 March 31,         March 31         March 31
                                                      2000             2000             1999
--------------------------------------------------------------------------------------------
<S>                                          <C>              <C>              <C>
General and administrative expenses
  Administration and general                 $      35,826    $       7,960    $         500
  Professional fees - accounting and legal          60,258                5            5,000
  Salaries and consulting fees                      34,099            2,571               --
--------------------------------------------------------------------------------------------

                                                   130,183           10,536            5,500
--------------------------------------------------------------------------------------------


Exploration expenses                               143,650          102,700               --
--------------------------------------------------------------------------------------------

Less:
    Interest income                                 23,987           5 ,281               83

    Interest expense                                  (598)            (167)              --

    Foreign exchange loss                             (670)              --               --
--------------------------------------------------------------------------------------------
                                                    22,719            5,114               83
--------------------------------------------------------------------------------------------
Net (loss) for the period                    $    (251,114)   $    (108,122)   $      (5,417)
============================================================================================
(Loss) per share, basic and diluted                                   (0.01)           (0.00)
============================================================================================
Weighted average shares outstanding                              14,000,000        7,000,000
============================================================================================
</TABLE>

The accompanying notes are an integral part of these financial statements.



                                       5
<PAGE>

CIGMA METALS CORPORATION & SUBSIDIARIES
(An exploration stage enterprise)


<TABLE>
<CAPTION>
Consolidated Statements of Cash Flows
(Expressed in U.S. Dollars)
------------------------------------------------------------------------------------------------------
                                                    January 13, 1989     Three Months     Three Months
                                                         (inception)            Ended            Ended
                                                        to March 31,        March 31,        March 31,
                                                                2000             2000             1999
------------------------------------------------------------------------------------------------------
<S>                                                    <C>              <C>              <C>
Cash flows from (used in) operating activities
  Net loss for the period                                   (251,114)        (108,122)   $      (5,417)
  Adjustments to reconcile net loss to net cash used
    in operating activities:
    Issuance of shares for mineral
    property rights                                              600               --               --
    Issuance of shares for administrative
    services rendered                                          1,000               --               --
------------------------------------------------------------------------------------------------------

                                                            (249,514)        (108,122)          (5,417)

Changes in assets and liabilities
   - note receivable - related parties                      (317,893)        (284,893)              --
   - accounts payable                                          8,500               --            5,500
------------------------------------------------------------------------------------------------------

                                                            (558,907)        (393,015)              83
------------------------------------------------------------------------------------------------------

Cash flows from financing activities
  Proceeds from issuance of common stock                     700,000               --          700,000
------------------------------------------------------------------------------------------------------

Increase  in cash and cash equivalents                       141,093         (393,015)         700,083

Cash and cash equivalents, beginning of period                    --          534,108               --
------------------------------------------------------------------------------------------------------

Cash and cash equivalents, end of period               $     141,093    $     141,093    $     700,083
======================================================================================================
</TABLE>


The accompanying notes are an integral part of these financial statements.


                                       6
<PAGE>

Notes to Interim Consolidated Financial Statements (Unaudited)

NOTE A:  Basis of Presentation

          The accompanying unaudited condensed consolidated financial statements
     have  been  prepared  in  accordance  with  generally  accepted  accounting
     principles for interim financial  information and with the instructions for
     Form 10-QSB and Item 310 (b) of Regulation  S-B.  Accordingly,  they do not
     include all the  information and footnotes  required by generally  accepted
     accounting principles for complete financial statements.  In the opinion of
     management,   all  adjustments   (consisting   only  of  normal   recurring
     adjustments)  considered  necessary  for  a  fair  presentation  have  been
     included. Operating results for the three-month period ended March 31, 2000
     are not necessarily  indicative of the results that may be expected for the
     year ended December 31, 2000.

          The balance  sheet at December  31, 1999 has been derived from audited
     financial  statements at that date. The consolidated  financial  statements
     and footnotes thereto included in Cigma Metals Corporation Annual Report on
     Form  10-KSB for the year ended  December  31,  1999  should be reviewed in
     connection with these condensed consolidated financial statements.

          The Company was incorporated under the laws of the State of Florida on
     January 13, 1989 as Cigma Ventures  Corp.  The Company  changed its name to
     Cigma  Metals  Corporation  on April  17,  1998 and is in the  business  of
     exploration of mineral properties.

          The  continued  operations  of  the  Company  is  dependent  upon  the
     discovery  of  economically  recoverable  reserves  or  proceeds  from  the
     dispositions  thereof,  the ability of the Company to obtain  financing  to
     complete development of the properties and on future profitable operations.

          All dollar  amounts  are in United  States  dollars  unless  otherwise
     indicated.  At the  transaction  date, each asset,  liability,  revenue and
     expense is translated into U.S.  dollars by the use of the exchange rate in
     effect at that date. At the period end, monetary assets and liabilities are
     translated  into U.S.  dollars by using the exchange rate in effect at that
     date.  The  resulting  foreign  exchange  gains and losses are  included in
     operations.

          In June 1998, the Financial Accounting Standards Board issued SFAS No.
     133, "Accounting for Derivative  Instruments and Hedging Activities".  SFAS
     No. 133 requires companies to recognize all derivatives contracts as either
     assets or  liabilities  in the  balance  sheet and to measure  them at fair
     value.  If certain  conditions  are met, a derivative  may be  specifically
     designated  as a hedge,  the  objective  of which is to match the timing of
     gain or loss recognition on the hedging  derivative with the recognition of
     (i) the changes in the fair value of the hedged asset or liability that are
     attributable  to the hedged risk or (ii) the earnings  effect of the hedged
     forecasted  transaction.  For a  derivative  not  designated  as a  hedging
     instrument,  the gain or loss is  recognized  in  income  in the  period of
     change.  SFAS No. 133 is effective for all fiscal  quarters of fiscal years
     beginning after June 15, 2000.

          Historically,  the Company has not entered into derivatives  contracts
     either to hedge existing risks or for  speculative  purposes.  Accordingly,
     the Company  does not expect  adoption of the new  standards  on January 1,
     2000 to affect its financial statements.

          In April 1998, the American  Institute of Certified Public Accountants
     issued  Statement  of Position  98-5,  "Reporting  on the Costs of Start-up
     Activities",   ("SOP  98-5")  which  provides  guidance  on  the  financial
     reporting of start-up costs and  organization  costs.  It requires costs of
     start-activities  and  organization  costs to be expensed as incurred.  SOP
     98-5 is effective for fiscal years  beginning  after December 15, 1998 with
     initial  adoption  reported  as  the  cumulative  effect  of  a  change  in
     accounting  principle.  Adoption of this standard has no material effect on
     the financial statements.

          Exploration  costs are charged to operations as incurred as are normal
     development costs until such time that proven reserves are discovered. From
     that time forward, the Company will capitalize all costs to the extent that
     future cash flow from reserves equals or exceeds the costs deferred.  As at
     March 31,  2000 and  December  31,  1999,  the  Company did not have proven
     reserves. Cost of initial acquisition of mineral rights and concessions are
     capitalized until the properties are abandoned or the right expires.



                                       7
<PAGE>

          Exploration  activities conducted jointly with others are reflected at
     the Company's proportionate interest in such activities.

          Costs related to site  restoration  programs are accrued over the life
     of the project.

          The  Company  places its cash and cash  equivalents  with high  credit
     quality financial institutions. The Company routinely maintains balances in
     a financial  institution  beyond the insured  amount.  As of March 31, 2000
     Company had $ nil in a bank beyond insured limits

          The Company expenses advertising costs as incurred.  Total advertising
     costs  charged to expenses  for the  three-months  ended March 31, 2000 and
     1999 were $Nil and $Nil, respectively.

          Certain  long-term  assets of the Company are reviewed when changes in
     circumstances  require  as to  whether  their  carrying  value  has  become
     impaired,  pursuant to  guidance  established  in  Statement  of  Financial
     Accounting  Standards  ("SFAS") No. 121,  "Accounting for the Impairment of
     Long-Lived Assets and for Long-Lived Assets to be Disposed of".  Management
     considers  assets to be impaired if the carrying  value  exceeds the future
     projected  cash flows from  related  operations  (undiscounted  and without
     interest  charges).  If impairment  is deemed to exist,  the assets will be
     written down to fair value.

          The  preparation of financial  statements in conformity with generally
     accepted  accounting  principles  requires management to make estimates and
     assumptions  that affect the reported amounts of assets and liabilities and
     disclosure  of  contingent  assets  and  liabilities  at  the  date  of the
     financial  statements  and the  reported  amounts of revenues  and expenses
     during  the  reporting  period.  Actual  results  could  differ  from those
     estimates and

          The Company has adopted  Statement of Financial  Accounting  Standards
     (SFAS") No. 109,  "Accounting for Income Taxes", which requires the Company
     to recognize  deferred tax  liabilities  and assets for the expected future
     tax  consequences  of events  that have been  recognized  in the  Company's
     financial  statements or tax returns using the liability method. Under this
     method,  deferred tax  liabilities  and assets are determined  based on the
     temporary  differences  between the  financial  statement  and tax bases of
     assets and  liabilities  using  enacted tax rates in effect in the years in
     which the differences are expected to reverse.

          Loss per share is computed using the weighted average number of shares
     outstanding  during the year.  Effective  for the year ended  December  31,
     1997, the Company adopted SFAS No. 128, "Earnings Per Share".

          In 1998, the Company  adopted SFAS No. 130,  "Reporting  Comprehensive
     Income",   which  establishes   standards  for  reporting  and  display  of
     comprehensive income, its components and accumulated balances.  The Company
     is disclosing this  information on its Statement of  Stockholders'  Equity.
     Comprehensive   income   comprises   equity  except  those  resulting  from
     investments  by owners and  distributions  to owners.  SFAS No. 130 did not
     change the current  accounting  treatments for components of  comprehensive
     income.

NOTE B: Note Receivable

          The note receivable is unsecured,  bears interest at the Citibank (New
     York City,  USA) prime rate plus two percent  and due on demand.  It is due
     from a company related by common management.

Note C: Mineral Properties and Exploration Licenses

          The Company owns the following  mineral  properties  located in Kozhim
     Region, Komi Republic, Russia, as follows:

     Area                   Central Point Co-ordinates
     ----                   --------------------------
     Samshitovoye           65 deg 14.7o N. Lat;            60 deg 13.5o E. Lon.
     Nesterovskoye          65 deg 13.7o N. Lat;            60 deg 14.8o E. Lon.
     Chudnoye               65 deg 14.3o N. Lat;            60 deg 14.2o E. Lon.



                                       8
<PAGE>

          Pursuant to an agreement  dated April 12, 1998,  the Company  acquired
     these mineral  properties by issuing 6,000,000  restricted common shares to
     the  vendors.  The  individual  who acted as  trustee  for the  vendors  is
     currently a director  of the  Company.  As the vendors are the  controlling
     shareholders  of the Company after the  above-mentioned  transactions,  the
     properties and licenses were valued at equal to the par value of the shares
     issued. The amount was treated as an exploration expense in 1998.

          Pursuant to another  agreement,  the Company has entered  into a joint
     venture  agreement with Poliarural  Geologia ("PUG") to jointly explore the
     properties.  PUG  is a  Russian  stated-owned  geological  exploration  and
     development company which owns the exploration,  development and production
     licences for the properties owned by the Company.

          The Company will own 49% of the joint  venture,  but it has the option
     to increase its stake to 75% by expending US$400,000 on the properties.


ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

(A)  General

          The  Company  is a mineral  exploration  company  based in  Vancouver,
     Canada and Moscow,  Russia and is engaged in the  exploration  for precious
     metals. The Company was incorporated under the laws of the State of Florida
     on January 13, 1989, under the name "Cigma Ventures Corporation".  On April
     17, 1998 the Company changed its name to Cigma Metals Corporation and is an
     exploration stage enterprise.  The company was inactive between January 13,
     1989 and April 17, 1998.

          This document contains numerous forward-looking statements relating to
     the Company's  business.  The United States Private  Securities  Litigation
     Reform Act of 1995  provides a "safe  harbor" for  certain  forward-looking
     statements. Operating, exploration and financial data, and other statements
     in this document are based on information the company believes  reasonable,
     but involve significant  uncertainties as to future gold and silver prices,
     costs,  ore  grades,  estimation  of gold and silver  reserves,  mining and
     processing conditions,  changes that could result from the Company's future
     acquisition of new mining  properties or businesses,  the risks and hazards
     inherent  in  the  mining  business   (including   environmental   hazards,
     industrial   accidents,   weather  or  geologically   related  conditions),
     regulatory and permitting matters,  and risks inherent in the ownership and
     operation of, or investment in, mining  properties or businesses in foreign
     countries.  Actual results and timetables could vary significantly from the
     estimates  presented.  Readers are cautioned  not to put undue  reliance on
     forward-looking  statements. The Company disclaims any intent or obligation
     to update publicly these forward-looking statements, whether as a result of
     new information, future events or otherwise.

          None of the Company's properties contain any known Mineral Reserves.

          The Company's common stock is traded on the OTC Market Pink Sheets.


(B)  Significant developments during the three months ended March 31, 2000

          The Company is  currently  conducting  an  exploration  program on its
     properties located in the Kozhim Region, Komi Republic, Russia.


                                       9
<PAGE>

(C)  Financial Information

          Three-Month  Period  Ended March 31, 2000  versus  Three-Month  Period
     Ended March 31, 1999

     Net Loss:

          For the three-month period ended March 31, 2000 the Company recorded a
     loss of $108,122 or $0.01 per share,  compared to a loss of $5,417 or $0.00
     per share in 1999.  The Company was inactive  between  January 13, 1989 and
     April 17, 1998.

     Revenues:

          The Company had no operating revenues for the three-month period ended
     March 31, 2000 (1999 - $0).

     Costs and Expenses:

          General and administrative expenses - For the three-month period ended
     March 31, 2000 the Company recorded general and administrative  expenses of
     $7,960, compared to $500 in 1999.

          Professional  fees - accounting and legal - For the three month period
     ended March 31, 2000 the Company recorded accounting fees of $5 (1999 - $0)
     and legal fees of $0 (1999 - $5,000).

          Exploration  expenditures - For the three-month period ended March 31,
     2000 the Company recorded exploration expenses of $102,700 (1999 - $0).

(D)  Financial Condition and liquidity

          At March 31, 2000,  the Company had cash of $141,093 (1999 - $700,083)
     and working  capital of  $450,486  (1999 -  $694,583)  respectively.  Total
     liabilities as of March 31, 2000 were $8,500 (1999 - $5,500).

          Net cash used in operating  activities in the three-month period ended
     March  31,  2000  was  $393,015  compared  to $83  generated  by  operating
     activities in the three-month period ended March 31, 1999. Net cash used in
     investing  activities in the three-month period ended March 31, 2000 was $0
     compared to net cash used in investing activities of $0 in the prior year's
     comparable  period.  Net cash  received  from  financing  activities in the
     three-month  period  ended  March  31,  2000  was $0  compared  to net cash
     received  from  financing  activities  of  $700,000  in  the  prior  year's
     comparable period.

          The  Company   has   sufficient   working   capital  to  (i)  pay  its
     administrative and general operating expenses through December 31, 2000 and
     (ii) to conduct preliminary  exploration  programs.  However,  without cash
     flow from operations,  it may need to obtain  additional funds  (presumably
     through equity offerings and/or debt borrowing) in order, if warranted,  to
     implement  additional  exploration  programs on its properties.  Failure to
     obtain such additional financing may result in a reduction of the Company's
     interest in certain  properties or an actual  foreclosure  of its interest.
     The Company has no agreements or understandings  with any person as to such
     additional financing.

          None of the Company's properties has commenced  commercial  production
     and  the  Company  has no  history  of  earnings  or  cash  flow  from  its
     operations.  While the Company may attempt to generate  additional  working
     capital through the operation,  development, sale or possible joint venture
     development of its properties, there is no assurance that any such activity
     will generate funds that will be available for operations.

          The Company has not  declared or paid  dividends  on its shares  since
     incorporation and does not anticipate doing so in the foreseeable future.


                                       10
<PAGE>

(E)  Year 2000 issues

          The  "Year  2000  problem"  passed  without  incident  at  any  of the
     Company's properties.

          The Year 2000 (YK2) issue is the result of computerized  systems using
     two  digits  rather  than  four  digits to  identify  an  applicable  year.
     Date-sensitive  systems  may  recognize  a date using "00" as the year 1900
     rather  that the year  2000.  This  could  result  in a system  failure  or
     miscalculation  causing  disruption to business  operations.  In 1999,  the
     Company completed a review of its computer-based  information  systems and,
     where needed,  Y2K  compliant  upgrades for the  Company's  core  financial
     systems were  installed  and tested.  To date,  no Y2K  problems  have been
     encountered by the Company or the Company's  vendors or others with whom it
     transacts  business and none are  expected.  The Company's  management  and
     operations staff will again monitor critical operations during the December
     31, 2000 - January 1, 2001 Y2K rollover dates.



                           PART 11. OTHER INFORMATION


ITEM 1.   Legal Proceedings

          The Company is not party to any  litigation,  and has no  knowledge of
          any pending or threatened litigation against it.


ITEM 2.   Changes in Securities

          Not Applicable


ITEM 3.   Defaults Upon Senior Securities

          Not Applicable


ITEM 4.   Submission of Matters to a Vote of Security Holders

          Not Applicable


ITEM 5.   OTHER INFORMATION

          None.


ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K

(a)  Exhibits:

1.1  Articles of Incorporation of Cigma Ventures Corporation                  *

1.2  Company By-laws Cigma Ventures Corporation                               *

1.3  Consent action of the Board of Directors of Cigma Ventures Corporation   *
     to reinstate the corporation in the State of Florida


                                       11
<PAGE>

1.4  Articles of Amendment to Cigma Ventures  Corporation changing            *
     the name of the Corporation to Cigma Metals Corporation.

3.1  Agreement dated April 12, 1998 between The Company and Delta Capital;    *
     Oil-Impex Limited; Gasinvest Ltd; Lloydinvest and Landa Ltd.

21.1 Subsidiaries of the Company                                              *

27.1 Financial Data Schedule

----------
* Previously Filed


(b)  Reports on Form 8-K

     None

     ----------
     * Previously Filed



                                   SIGNATURES

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 thereunder duly authorized.

Date:       September 19, 2000                BY:   /s/ Agustin Gomez de Segura
            ------------------                      ---------------------------
                                                    Agustin Gomez de Segura
                                                    Director and President

Date:       September 19, 2000                BY:   /s/ Jorge L Lacasa
            ------------------                      ---------------------------
                                                    Jorge L. Lacasa
                                                    Director


                                       12