TRADE July 8 close
John please liquidate all my holdings of FCP TSE ( .59 ) Please split them equally between MDR VSE and ATN TSE.
MDR is at .38 - in mid to late 96 this was a 10.00 dollar stock - they got into a fistfight with a local over title to a mineral property - the first court decided in favor of the local, but since then it has gone to the Supreme Court in Argentina, and MDR has won. The local's opportunity to appeal is now running out and this thing could really take a big bang. Teck is their partner, and they have been doing private placements at 1.00 per share - cash value is something on the order of .29 per share
ATN - Back in 96, this was a $5.50 stock from assay results from "Wolverine" (40% ATN ). Cash value at Mar 31 was .70 per share rough calculation.
The following are all excerpts from recent ATN press releases.
The main asset is the Wolverine deposit (6.2 million tonnes of 1.3 per cent copper, 1.6 per cent lead, 13.7 per cent zinc, 370.9 g/t silver and 1.8 g/t gold) in the Yukon Territory. Mineralization at Wolverine is particularly high grade having an average gross metal value of approximately $370 (Canadian) per tonne in contained zinc,
copper, lead, silver and gold. In calculating the gross metal value of the Wolverine resource, the following metal prices and exchange rate are used: 45 cents per pound zinc, 80 cents per pound copper, 25 cents per pound lead, $5.50 per ounce silver, $300 per ounce gold and United States dollars equals $1.47 (Canadian). The deposit contains a large metal resource of 1.7 billion pounds of zinc and 72 million ounces of silver. Zinc and silver account for about 80 per cent of the gross metal value.
It was the deposit that was found to have a high level of selenium ( bad ).
The joint venture has contracted Brad Marchant, M.A.Sc. to lead a team to undertake the investigation of the marketing of concentrates and metallurgical processing of Wolverine ores. Mr. Marchant has a history of solving metallurgical problems with complex ores and brings considerable metallurgical and business experience to the team.
I understand that one of the solutions is to blend the ore with 2 other mines in the area - the blended ore will have a much better level of selenium and maybe with some work, they can even get the remainder under control
Mark |
