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Gold/Mining/Energy : CVR: V Consolidated Viscount Resources - Ringer???
CVR 9.130+0.7%3:59 PM EST
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To: Andy B. who wrote (220)4/18/1997 11:50:00 AM
From: Jim Woodman   of 409
 
Andy and all. I have held this stock since last Fall and it sure has been a sleeper. But perhaps it's about to wake up. IR (Dave Harris) called me today and advised that their Mexico property will commence production in May. Also he mentioned the drilling by Kennecot on another Mexican property. In addition he said that they had analysts
visit them recently who were impressed with the company's management and prepared to write the company up. ( Sorry, he did not give names.) Also the company is arranging a PP of about 300,000 shares in the 1.67 range, primarily to drill the Carbonear property (JV with Vulcan). He says this property has elephant potential. Actually in a write-up John Kaiser did on Vulcan last year he also said the same thing about that property. Kaiser said also that Pat Laracy of Vulcan probably liked the promotional abilities of Len Harris and that may be one reason they JV'd with CVR.

As to Labrador they are letting their neighbours drill (ALR for one). Seems like a sensible approach to me with their limited cash.

Do you sense a promotion coming? CVR certainly has enough to work with and the share structure is nice and tight so we MAY see a nice runup, even in this market. I'm holding out for $4 or more. ( I also like Vulcan and own it )

Any thoughts

Jim
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