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Gold/Mining/Energy : Tahera Corp (TAH)
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To: G who wrote (101)9/10/1999 6:12:00 PM
From: Donald McRobb  Read Replies (1) of 239
 
Hello G: Spoke to Grant Ewing today and it appears Crabbe Huson are
still selling. They should be below the 10% ownership threshold now so we will have to wait and see if their selling continues. Expect the Contwoyto mini-bulk results in early October. This selling has pushed the price down and makes it a great Speculative Buy. Goepel McDermid Investment Research thinks it is also. I attatch a summary of their analysis:

Goepel McDermid Investment Research

July 1999

TAHERA CORPORATION (TAH- *0.13)
RECOMMENDATION
Speculative BUY

12-Month
Target Price $0.30
Investment Summary

Exploration upside on large property holdings In the Lac de Gras area along with underlying value of a potential small-scale mine at Jericho makes TAH an intriguing speculative story. A mini-bulk sample later this summer on the Contwoyto pipe plus Kennecott's continued exploration work means a steady flow of news.

* Tahera (TAH) was formed in 1999 out of the merger of Lytton Minerals and New Indigo Resources. TAH's principle asset is a 100 percent interest In the Jericho project The Jericho pipe, located 27 kilometres northwest of the Lupin Gold mine, contains a high grade core (JD-6) of 1.6 million tonnes at 1.42 carats per tonne at US$75 per carat

· TAH proposes to expand an existing 10 tonnes per hour Dense Medium Separation plant at Lupin to treat ore from the Jericho pipe and pending evaluation, the nearby Contwoyto pipe. Capital costs would be in the US$25-30 million range and a mining contractor would be used to haul ore. The Jericho pipe could conceivably be in production by 2001 or 2002 given the use of existing infrastructure, the limited pernitting Issues and the low capital requirements.

· TAH has a 1.7 million-acre exploration joint venture in the Lac de Gras area where Kennecott can earn a 50 percent interest by spending $50 million by 2008. Exploration is ongoing, with $12 million having been spent to date to identify a total of 7 kimberlites.

· TAH offers exposure to plenty of exploration upside while the Jericho pipe represents under1ying value of $0.20 per share assuming a 10 percent discount rate on cash flows from mining the JD-6 and Contwoyto pipes. Success this summer on one of the Kennecott properties or TAH's own properties could add further value.

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