DUMONT NICKEL (DNI-M) Message Board

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Gold/Mining/Energy : DUMONT NICKEL (DNI-M)

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To: Just G who wrote (170)	6/30/1999 12:02:00 PM
From: Brumell	Read Replies (3) of 236

The following is from this morning's Morning Coffee from Canaccord Capital. I think it sums up the situation well at Dumont. ___________________________________________________________________ DUMONT NICKEL (DNI-MSE: 15.2M shs issued; 16.8M shs f.d) commenced drilling on its 100%-owned Lac Raglan Property Dumont's exploration program includes 23 drill-holes (average approximately 250 meters, totaling 6,000 meters), which will be completed between June 1999 and September 1999. First assay results are anticipated in late July. Dumont has commenced drilling at its LR-2 target about 900 meters from the west border between the Lac Raglan property and Falconbridge's Raglan property 22.1M tonnes grading 3.0% Ni, 0.87% Cu and 6 g/t PGM's in 8 separate ore bodies. Three holes are planned at Dumont's LR-2 target, before moving to the LR-1 target where 6 holes are planned. Dumont's geologists have observed that a Falconbridge drill is currently operating near its east border with Dumont. Dumont's 178 km2 Lac Raglan Property covers a strike length of 31 km of the prospective Raglan Horizon, contiguous and to the east of Falconbridge's Raglan mining camp. A favourable sulphide intersection would be considered very favourable since it has been accepted in the past that the Raglan structure does not continue east of Falconbridge's property boundary. Six geophysical targets interpreted as mineralized ultramafic rocks in the Raglan Horizon have been prepared for this year's diamond drilling program. Dumont has completed an airborne geophysical survey on the eastern 17 km of the Lac Raglan Property and anticipates that additional drill targets in the Raglan Horizon will be defined. About 20% of the program is anticipated to be carried out on Dumont's Shoot Out Property, located in an east-trending belt of ultramafic rocks on the Delta Horizon 15 to 20 km south of the Raglan Horizon, where two drill targets were identified in 1998. Dumont is one of the first companies to be funded by the Hunter Dickenson flow-through funding. The first phase of drilling is budgeted for $2.7M over the next year where on completion Dumont must elect to issue shares to the fund at the prevailing price or grant the fund 30% of the project up to 51% with subsequent financing. In addition, DML must issue Hunter/Dickenson a bonus of half the shares between the base price of $0.50 and the prevailing price. In the current junior exploration market this is an excellent way to finance this project. This is a high potential, high risk speculative venture with strong upside pending a successful drill intersection. The shares have appreciated from $0.80 in the last 3 days and we are monitoring the exploration progress day by day. Andrew Muir, Canaccord Research

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