Major international discovery by a unknown shell (CZA-v)
The float of this baby is around 1 million shares.
Market Depth looks good but with a wide spread b/c of lack of trading shares.
cdnx.ca
Caesars Explorations Inc
CZA
Shares issued 6,055,422
Sep 25 2000 close $.260
Sep 26 2000 1:47:42
Mr. Basil Pantages reports
Caesars Explorations has made a major discovery of precious gems in mineral-rich Tanzania.
According to a report prepared by Mitchell Geological Services Inc., of Vancouver, the mining consultants engaged by Caesars to conduct explorations activity on a 10-square-mile area on the Muhuwesi River, southeast of Tanzania, East Africa, all the samples taken from nine test pits carried gemstones. The total gemstones recovered from the test pits amount to 347 grams. They included garnets, pink, purple and blue sapphires, rubies, green chrysoberyl, and tourmaline. Gold was also discovered and there are indications it may be of commercial quantity. Diamonds are also present in the Muhuwesi River, but no testing has been undertaken yet by Caesars Explorations to determine quantities.
Based on the projected gemstone quality and quantities from the nine test pits, the Mitchell Geological report estimates the total commercial value for gemstones is in the $100-million to $200-million range. Gemologist Dr. Nakara S.E. Matemu (FGG registration No. 802/97) was engaged for the initial evaluation.
A 15-man crew headed by engineer Marvin Mitchell, president of Mitchell Geological Services, worked on the projects.
Caesars Explorations is evaluating other mining projects on the Muhuwesi with a view to ownership or joint-venturing with native groups. According to the Mitchell Geological report, collectively, these projects should be able to maintain a $10-million annual gemstone production level.
Not a buy recommendation.
Call the company yourselves at 604-718-2803 to verify the info.
CK. |
