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Gold/Mining/Energy : International Gold Corp (IGCO)
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To: Semyon Kuretsky who wrote ()5/11/1998 7:34:00 PM
From: Robert  Read Replies (1) of 405
 
I received the following info via E-Mail today and was curious if anyone had seen or herd the same:
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I spoke with Marcus Johnson, the communications officer for Intergold and Goldstate a couple of nights ago. Had a real interesting conversation with him for 25 minutes or so. It was very encouraging.

Company laments telling investors when to expect Bateman report. Bateman because they are independent has decided a couple of times to prolong testing at the last minute. These are delays that IGCO have had nothing to do with. Company laments that they are unexpected but out of their control.

Short story is that Bateman report is still expected soon. Marcus said next week is new anticipation time. Also company will almost certainly sell off the property sometime in 1999. IGCO is in gold exploration business and not mining business. They are not actively soliciting buyers now but I understand there are a couple of companies already interested. Current wave of financing is to determine an ore size as exactly as possible in order to
make a sale possible. This property of IGCO alone is said to have at least 500 million tons of ore at .13 ounces per ton. You can do the math but I think that puts it somewhere in the 80 million ounces of gold area or so. This doesn't take into consideration GDSA's property which they say could be as valuable but has not been tested to the degree of IGCO.
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Thought you might find this interesting.

Robert...
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