Only concern is that volume has dropped off and the price has plateaud.
Also the initial rise was based on the news release below and the very low float.
Interesting it hasn't dropped at all though.
Essam
Work program planned for Pipe Lake property
Thunder Sword Resources Inc
THU
Shares issued 2382127
1997-03-07 close $0.84
Monday Mar 10 1997
News Release
Mr Siegfried Naguschewski reports
The company has contracted Mr Peter Hawley, B.Eng., B.Sc. of H. Ferderber
Geophysics to conduct a work program of up to $200,000 on its Pipe Lake
property in the Mishibishu Lake area of Ontario near Wawa, Ontario.
The Pipe Lake property is approximately 3.5 miles to the west of the Eagle River
mine, which produced 64,523 oz of gold in 1996 and is operated by River Gold
Mines which is also in the process of developing two other mines in the vicinity of
the company's Pipe Lake property.
The Pipe Lake property consists of 50 claims and is west along strike to the Eagle
River mine, and is underlain by similar rock types.
Work previously conducted consisted of prospecting and soil sampling and
produced values of up to 3,251 ppb gold (about .10 oz/t gold). Visible gold was
found in a quartz stringer within a shear zone and further surface sampling revealed
three other gold showings with values ranging from 0.10 oz/ton Au to 3.4 oz/t Au.
The work program proposed will consist of further soil sampling, prospecting and
trenching, followed by diamond drilling.
With respect to the private placement, the company has agreed to pay a finder's
fee. |
