Atapa Minerals (AML on the ME) Message Board

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Gold/Mining/Energy : Atapa Minerals (AML on the ME)

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To: Madpinto who wrote (44)	4/1/1997 11:11:00 AM
From: Dennis Martin	of 106

Michael, As per your question, I am not sure but I think it may have something to due with the quality of the company. Atapa should not be grouped with other companies that flocked to Indonesia. Atapa has been active in Indonesia for a considerable amount of time prior to the "rush". I have researched this company as thoroughly as I could and believe that the properties held by Atapa have the second best potential in Indonesia(possibly the best). The company does not promote. Look at any Indonesian list of companies and Atapa is rarely mentioned if at all. This could explain the lack of sensitivity to panic selling. Take for example the Atapa Release dated May 24, 1996. This release contains a map of the property held by Atapa. Ciawitali is off the property and is reported to contain 1 million ounces Au. On April 26, 1996, the property was expanded to include Ciawitali and much closer to the active G. Pongkor mine with 3 million ounces Au. After Atapa gained control, the reference to the amount of gold was ignored. When I questioned Atapa on this discrepancy they stated that "the infomation was collected by other parties and Atapa is not willing to release this information until it has been verified by Atapa Staff. This site is currently being assessed although it is a lower priority to the exploration activities at the Cikidang site." Some additional information I obtained from Leo Kosowan, Vice President of Atapa. An independent firm, Snowden out of Australia is currently completing the due diligence (DD) on the Cikidang deposit. This is expected in two weeks. Listing on the TSE is expected in April. Analyses methodology is based on standard techniques and is being verified independantly by Snowden to improve investor comfort level. KP licences on JAVA is equivalent to COW on Kalimatan; KP licences have been in order for a long time. Cikidang is expected to prove up 3 million ounces. Detailed drilling results will be released following TSE listing. It is Atapa's goal to have a mine and milling operation underway in a very short time frame. ---- Most of my speculative holdings are in Atapa. Even though the market appears to have cooled off, I have no intention of selling. Dennis

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