Mr. Metals,
I am on XCL's mailing list, and just received a copy of an analysis done by HBSC, dated June 23, 1998. If you (or anybody else) wants a copy of this report (or the companies annual statements) you could give them a call at(604) 662-8245.
They recommend the company as a speculative buy, with a two year target price of $2.00. I certainly agree with the "speculative" part, and don't think that picking a $2.00 target is going out on a limb too far, since it did trade as high as $1.50 in the past year.
Right now it seems stuck between $0.40 to $0.50, and could very well stay there for a while. Hopefully Shawn's up-beat feelings turn out to be justified and a deal with a major is announced relatively soon, although I realize that these things can take time, so I'm not holding my breath.
A recent press release from XCL follows:
Regards,
John Sladek
July 20, 1998 - Sole Ownership to One Third of Sleeper Gold District
Sleeper Gold Project - Humboldt County, Nevada, USA
7,800 acres of the 22,000 acre Sleeper area land package are now 100 percent the property of X-Cal Resources Ltd. and are not subject to the terms of the X-Cal Resources Ltd./Kinross Gold Corp. operating agreement for the district.
X-Cal has become sole owner of more than one third of the Sleeper area lands within the area of interest, following an election by Kinross to not contribute their pro rata portion of the acquisition costs for 391 claims.
The claims that were staked during 1996 and 1997 are considered to be prospective for new gold deposits by X-Cal and represent a significant portion of the Sleeper Gold District. (See attached map.)
Note: X-Cal Resources Ltd. can be referenced through the Standard & Poors Directory.
The 1997 Annual Report is available through X-Cal Resources Ltd.
X-Cal Resources Ltd. Shawn Kennedy President (604) 662-8245 (604) 688-7740 (FAX) |
