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Gold/Mining/Energy : Houston Lake Mining [HLM-ASE]
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To: Sugiyama Kazuo who wrote (236)10/28/1999 12:46:00 PM
From: DRT  Read Replies (1) of 364
 
What puts Pakeagama Lake in the same category as the Tanco mine, Sons of Gwalia's Greenbushes mine and the Bikita mine in Zimbabwe is the fact that the property is zoned. It has Li in the form of spodumene (characteristic of Tanco, Bikita and Greenbushes) and pollucite (both Tanco and Bikita contain subzones of pollucite). Its also well known that tantalum "...tends to occur in discrete zones tens of metres wide - bonanza zones".

If you want to gauge interest in Ta/Ce, these are some benchmarks:

1. Cabot Corp has recently invested $20 million in a cesium formate plant (Tanco) and $30 million in SOG through a private placement (7% interest).
2. In 1998, SOG signed 5 year contracts with Cabot Corp. and H.C. Starck (Germany-based competitor of Cabot Corp re. Ta capacitors) worth US $350 million.
3. Analysts comments on the potential of these rare metals:

- Research Capital ($5 target/April 98): "... the potential to optimize the project through identification of higher grade Ta zones as sweet spots for accelerated payback is very real".
- Taurus Capital ($5 target/March 98): "The importance of these dykes lies in the enriched Ta and Ce values, suggesting a characteristic zonation common with this kind of deposit"
- Brenark Research ($3-5 target/Jan 98): "...tantalum concentrates are sold for about US $40 per lb of contained Ta - or an amazing $25,000 per tonne. Pollucite concentrate (24% cesium oxide) sells for about US $1000 per tonne placing the gross value of the Tanco reserves at over US $300 million".

Comment: Those analysts comments and valuations were made in reference to another company - but they are noteworthy as they may apply to Pakeagama Lake!

DRT
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