Paramount Ventures fifth most active conference
Paramount Ventures & Finance Inc PVF
Shares issued 27,591,374 Aug 20 close $0.42
Mon 23 Aug 99
Week ended Aug. 20th
by Stockwatch business reporter
This is the first review of Paramount Ventures in Forum Watch, claiming
fifth position among Canada Stockwatch's most active conferences. Paramount
is a junior resource company with a focus on diamond exploration and
development. Along with Canabrava, its joint venture partner, Paramount has
acquired more than 120,000 hectares of land near Wawa, Ont. In March, the
partners signed a joint venture/option agreement with Kennecott Canada
Exploration to explore and develop this property. Under the terms of the
agreement, Kennecott must spend $25-million over the next seven or advance
any one of the projects to a decision to begin development and construction
of a mine, whichever occurs first, to earn a 60-per-cent interest in the
properties. In Brazil, Paramount and Canabrava are developing the Rio do
Sono alluvial diamond resources. According to the company literature, early
cash flow is expected from this project.
In addition to its diamond interest, Paramount has a 100-per-cent interest
in the Juramento copper and silver property in Argentina. Paramount reports
that drill-indicated grades and tonnage are estimated at 11.5 million tons
of 0.8 per cent copper and 21.8 grams per tonne of silver. A geologically
inferred additional resource of 37 million tons of similar grade is also
claimed. Paramount also owns a 55-per-cent interest in Paramax Resources, a
company involved in oil and gas exploration and development in Texas and
Louisiana. As of May 11, 1999, Paramount had working capital of $6-million
and no outstanding debt.
In the conference discussion, there has been little offered in the way of
specific information regarding the company. Gregor Samsa, a newcomer to the
conference, wrote: "I hear that there will be some exciting news out on
this stock next week!...Sounds like a great chance to make some quick
cash." That drew a response from Flea: "I don't mean to burst your bubble
but we've been hearing 'news next week' for about three months now."
Similar scepticism was evident in a post from One eye: "...if it's quick
cash try the cash machine down at the local bank. If you're looking for
news soon -- forget it." Gregor Samsa suggested that Flea and One eye
simply had bad attitudes. Perhaps as an example of a more suitable
attitude, he passed along his rendition of 'I heard it from a friend of
mine who heard it from a friend': " I've got very good information from
someone who is quite close to a lot of people who have access to some very
influential fellows who know the score, and I can tell you this stock is
ready to go." Urging other participants to promulgate proactive investment
attitudes, he remarked, "Quality investment takes a very good attitude!" He
went on: "I awoke just a few days ago and knew that PVF was in my future.
I'm ready to molt the old investment fears I had with borderline e-commerce
offerings and go with a real winner. Paramount is the future. I can sense
it." One eye and Flea seemed more concerned with realities than with
visions or developing the right investment attitude. One eye told Gregor
Samsa not to expect "two bit promotion" from him. He added: "I expect
nothing of significance until September and it could be later if issues are
not settled at home and in Brazil." Investment attitudes aside, Paramount
Ventures finished the week at 42 cents on light trading.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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