PIG.V closed 4/8/98 at C.25 on vol of 460,500 shares.
The company has bought a Copper/Silver/Iron/minerals mine in Slovikia for $5 million US. The mine is very conservatively defined to be worth over $100 million US. With stock of 8.5 million shares, the value per share is $11.76. A 60,000 tonne bulk sample verified previous resource estimates at 13 to 15 oz. of Silver/T and 30 lb. of copper/Tonne. If Ag is priced at just $4/oz and Cu is priced at $.72/lb., the resource base of 1,245,000 tonnes yields a value of almost $92 Million. NOTE: The estimates are low...there is more ore, the mine is larger and will be expanded, and other mineral types are not included in these figures. This mine is in pristine condition, is in a mining community where labor is experienced having worked over a dozen mines in this mineral rich area, taxes are 2%, much of the equipment is very good and/or being upgraded as part of the privitization process. The "other minerals" mentioned above are estimated to be worth $10/T. Both company geologists and independent geologists believe the mine will yield numerous other mineral finds. More news is planned by the company to further explain the economics of this mine. The country of Slovakia is next to Austria...go to <http://www.eunet.SK> and click on English to thread all about the country and population and geology. PIG.V is going to have very good cash flow from this mine. Call them at 888 209 9111 or 604 893 8680. See news releases of March 18 and March 30, 1998. I own a small position in this company. My email address is <jdibble@onramp.net>. Your opinions are welcome. |
