an excellent corporate summary from RB:
Patagonia Capital Continues Investment Coverage of Columbia River Resources, Inc.
Columbia River Resources, Inc. ("CRVV" on OTC - BB)
Suite 304 856 Homer Street Vancouver, B.C. V6B 2W5
Phone: (604) 688 - 1163 Fax: (604) 688 - 6375
Website: columbiariver1.com
A tightly-held mineral exploration company about to begin drilling a new gold discovery in Ghana that
adjoins a 8,000,000 oz deposit
CRVV is the first exploration company to actively work in Nigeria; numerous concessions have been
evaluated, covering many potential world-class Tantalum deposits
After two years of searching for properties, evaluating submittals and conducting regional reconnaissance
programs in western Africa, Columbia River Resources Inc. ("CRVV" on OTC-BB) has assembled two
significant mineral plays that will be aggressively drilled and developed during the coming year.
In Ghana, CRVV has made a significant gold discovery along a trend hosting several multi-million ounce
deposits; drilling will begin at Ayaco later this quarter. Columbia River also has the distinction of being the
first exploration company to begin working in Nigeria; over the past year, CRVV has undertaken significant
regional reconnaissance programs, the results of which are expected to yield one or more major
acquisitions of advanced-stage Tantalum projects in the near future.
CRVV HAS MADE A SIGNIFICANT DISCOVERY AT THE AYACO PROPERTY IN GHANA
Recently completed regional exploration work by Columbia River on the Ayaco property has defined a
+100 ppb gold-in-soil anomaly 2.8 kilometers long and up to 300 meters wide. Depth continuity of the
anomaly has been verified by excavation of pits into the saprolite (one to four meters deep), which have
established that gold mineralization is associated with quartz veining. Pit wall samples run up to 8 gm
Au/MT. A drilling program on this target is set to begin later this quarter.
CRVV has also outlined a second anomaly (+ 50 ppb) located five kilometers east of the main target that
extends for at least 1,200 meters along strike. Values up to one gram in have been recorded in an area
underlain by sheared granites in a similar geologic setting to the E-zone of Moydow Mining's Ntotoroso
project.
The Ayaco results are significant and should not be treated lightly. These are very sizeable anomalies,
and represent large potential gold resource zones. CRVV is about to begin drilling the larger anomaly, and
if results are positive, the company plans to advance the property to the point where Ayaco would be an
attractive target for one of the mining companies operating in Ghana.
AYACO IS SITUATED ALONG A TREND HOSTING SEVERAL MULTI-MILLION OUNCE DEPOSITS
To the southwest of the Ayaco property along the Yamfo Gold Trend, two major gold discoveries are
currently being drilled.
At the adjoining Kenyase deposit, Normandy LaSource has reported a resource of approximately
6,000,000 ounces; further to the southwest, Moydow Mines has delineated an gold resource of 2 million
ounces at its Ntotoroso project.
For further information on the Yamfo Gold Trend, please see moydow.com (Ntotoroso project)
or normandy.com (Kenyase deposit)
GREG HAWKINS - WORKING HARD TO TURN CRVV INTO A SUCCESS
Actively involved in the day-to-day African operations of CRVV, Greg has over 20 years experience in
West Africa, and is considered to be one of the top geologists in that part of the world. Hawkins has
strong ties to Nigeria, where he lived and worked for six years as an economic geologist and project
manager for the Nigerian Mining Corporation.
Greg is the reason why Columbia River was able to become one of the first major mining exploration
players into Nigeria, and also was responsible for CRVV's acquisition of the Ayaco property in Ghana.
NIGERIA - A COUNTRY WITH VAST POTENTIAL WHERE CRVV HAS NO REAL COMPETITION
During 1999, CRVV recognized the need for diversification to survive. It therefore decided to make the shift
from a precious metals focus to include industrial minerals, specifically that of Tantalum. In addition, it
also became quite apparent that it was necessary to pioneer the company's Tantalum and Gold
operations in countries that offered vast potential with little or no competition. The African countries of
Nigeria and Ghana respectively, offered both of these opportunities.
Through its affiliation with CME & Company, a geological consulting firm with many years of experience
and success in Africa, CRVV identified Nigeria as its primary target to locate and acquire projects. Having
undergone a successful transfer of power from a dictatorship to democratic rule in very recent times, the
new government has expressed a genuine desire to rebuild its mining industry, and during 1998, passed a
new mining code and began seeking out foreign investments. While Nigeria's oil industry has continued to
flourish over the past 40 years creating massive wealth for major oil companies, her vast solid mineral
wealth had been largely overlooked and still remains virtually unexplored.
In April 1999, CRVV became one of the first mineral companies (since British firms in the 1930s) to
establish operations to explore for and develop mineral projects in Nigeria.
Columbia River is currently reviewing a number of promising Tantalite areas in Nigeria, which have been
visited during regional reconnaissance studies, including 25 former mining sites and over 35 pegmatite
occurrences. In these areas, there are a number of sites that show considerable promise for significant
occurrences of Tantalum and related rare earth mineralization. All sites represent very attractive targets for
future detailed exploration and have the potential to become the location of world-class deposits of
Tantalum and other rare metals.
CRVV is focusing on Tantalum projects with near-term production potential, owing to the metal's rising
market prices, tight mine supplies, and strong demand outlook.
TANTALUM - A RARE STRATEGIC METAL WITH STRONG DEMAND & RISING PRICES
Once considered merely a contaminant in the production of tin, tantalum has become a critical raw
material for the electronics industry, where it is used to make high-quality capacitors for cellular phones,
microprocessors, video cameras, pagers and other small electronic devices. In fact, electronic
applications for tantalum have grown so rapidly in the last 10 years, that they now account for about
two-thirds of consumption. Nigeria has a long history of tantalum production as a by-product from tin.
Tantalum is unique in that it is one of the few metals that has enjoyed both strong growth (4% to 5% per
annum) and increasing prices (up about 25% to US$45/lb) over the last few years. Any tantalum
concentrates that Columbia River can produce in Nigeria would find a ready and receptive market.
IF YOUR INVESTMENT STRATEGY IS TO "HUNT ELEPHANTS", THEN CRVV IS ONE TO WATCH
We believe that CRVV has assembled the two key ingredients for success as a mineral exploration
company: an experienced management team with successful track records, and a potential world-class
discovery.
For these reasons, Columbia River warrants serious consideration by speculative investors seeking a
long-term commodity play (12 - 24 months) with strong speculative potential and limited downside risk
from current levels.
Columbia River is about to begin drilling Ayaco, and this is the point at which investors and the markets
traditionally begin paying attention to stocks, particularly when potentially world-class deposits are
involved.
The second key feature that we like about Columbia River is Greg Hawkins' active involvement. Greg has
been in West Africa for over 20, was an integral part of Nevsun and Banro's success in the 1990s, and is
considered to be one of the top geologists in that part of the world. We believe that of for no other reason,
Greg's active involvement with CRVV makes this stock worth taking a closer look at.
As a counter-cyclical play against gold, Columbia River has wisely diversified into Tantalum. With strong
underlying demand, tight supplies and rising prices, Tantalum offers a potential long-term source of stable
revenues and cash flow for CRVV. We believe that CRVV is attempting to model itself after Sons of
Gwalia, a very successful company that is now both the world's largest mine producer of Tantalum, as
well as a major Australian gold producer.
We are also very encouraged that Columbia River is the first public mineral exploration company into
Nigeria. As we saw so often in the 1980s and 1990s, the best projects go to the first few companies
getting into a newly-opened country.
We also take heart that CRVV was recommended by Peter Grandich ( grandich.com ) at the
San Francisco Gold Show (December 1999) as his "moon shot" pick for 2000, based on the strength of
Columbia River's property portfolio and Greg Hawkins' involvement. Grandich is recommending
accumulating CRVV at these levels, and giving management time to develop their properties.
Lastly, we would like to remind one and all that Bob Ferguson and Greg Hawkins are serious about
building a company, and are not looking to hype the market with news about Columbia River just for the
sake of day traders and short term investors. This is a long term play, and as we have seem over the past
two years, these guys only put out news releases when they have something significant to publish.
However, now that the formative stages are behind them and the real work is about to begin, CRVV's
management has assured us that there will be a good flow of news out of Nigeria and Ghana in the
coming months.
A DUAL LISTING (USA & Nigeria) IS IN THE WORKS !!
Columbia River has been invited to become the very first listed mining company on the Lagos Stock
Exchange in Nigeria. The Company is in the midst of preparing its listing information, and may be ready to
file its papers sometime in February. CRVV shares would be quoted electronically in the local currency
(naira), and, once trading in both the United States and Nigeria, might provide some profitable arbitrage
opportunities and great local market support.
CRVV SHARE STRUCTURE & RECENT TRADING RANGE
Total Shares Outstanding: 8.9 million
Public Float: Est'd @ 1.5 million
1999 Trading Range: US$0.06 (low) by US$0.30 (high)
Last Trade (January 14, 2000): US$0.10
Columbia River is currently preparing a Form SB-1 for filing with the SEC. In the meantime, the company's
financial statements can be viewed at: columbiariver1.com
For more information, please contact:
Bob Ferguson - President
Phone: (604) 688 - 1163 e-mail: rferg@ColumbiaRiver1.com
Disclaimer - Please Read
Patagonia Capital Corp. (the "Publisher") is not a Registered Investment Advisor or a Broker / Dealer.
Readers are advised that this report is issued solely for information purposes and is not to be construed
as an offer to sell or the solicitation of an offer to buy. Reproduction of this report, in whole or in part, by
any means, electronic or otherwise, including via the Internet, without prior written permission, is strictly
prohibited.
The Publisher has independently prepared this report, drawing upon a range of public news and
information sources, as well as data and opinions provided by Columbia River Resources Inc. ("CRVV" or
the "Company"). Prior to publication of this report, the Company reviewed and approved the contents
hereof. The Publisher has not independently verified the Company's representations. Any opinions
expressed in this report are statements of judgment as of the date of publication (January 16, 2000) and
are subject to change without further notice, and may not necessarily be reprinted in future publications or
elsewhere. Neither the Publisher nor its owners, employees or consultants accept any liability whatsoever
for any direct or consequential loss arising from any use of this report or its contents. The information
contained herein is not intended to be used as the sole basis of any investment decisions, nor should it
be construed as advice designed to meet the investment needs of any particular investor.
The opinions and analysis included herein are based on sources believed by the Publisher to be reliable
and in good faith but no representation or warranty, expressed or implied, is made as to their accuracy,
completeness or correctness. The foregoing discussion also contains forward-looking statements that are
based on current expectations and differences can be expected. The information and opinions contained
herein is not intended to be a complete discussion of information regarding some of the current and/or
intended business activities of the Company, and all information contained in this report should be
independently verified with the Company. Readers are urged to consult with independent financial advisors
with respect to an investment in the shares mentioned herein. Investors should review a complete
information package on the Company which should include, but not be limited to, the Company's annual
report, quarterly report, press releases, as well as all regulatory filings.
In order to be in full compliance with the Securities Act of 1933, Section 17(b), the Publisher advises its
readers that it has received a fee of 20,000 common shares of CRVV from Instant Digital Printing as
compensation for its efforts in researching, writing and presenting the information contained herein. The
Publisher, its owners, employees and consultants may profit in the event the shares of the Company
increase in value. These positions may be liquidated from time to time even after Publisher, its owners,
employees and consultants have made positive comments regarding the Company.
THE READER SHOULD VERIFY ALL CLAIMS AND DO THEIR OWN DUE DILIGENCE BEFORE
INVESTING IN ANY SECURITIES MENTIONED. INVESTING IN SECURITIES IS SPECULATIVE AND
CARRIES A HIGH DEGREE OF RISK. INVESTORS MUST ALSO INDEPENDENTLY VERIFY THE
"BLUE SKY" ELEGIBILITY OF THE SECURITY MENTIONED IN THIS REPORT BEFORE MAKING ANY
INVESTMENT DECISIONS. TIMING OF, AND ANY BUYING OR SELLING DECISIONS, ARE THE SOLE
RESPONSIBILITY OF THE READER.
The Publisher encourages U.S. readers to review the investing information available with the Securities
and Exchange Commission ("SEC") at sec.gov and/or the National Association of Securities
Dealers ("NASD") at nasdr.com The NASD has published information on how to invest
carefully at its website.
CRVV is not yet a fully reporting company with the SEC, although it expects to file its Form SB-1 in the
near future. At such time as CRVV becomes fully reporting, readers will be able to review CRVV's public
filings (including financial information) at the SEC's EDGAR page freeedgar.com. Until then,
CRVV's financial statements can be viewed at the Company's website (
columbiariver1.com ).
¸ 2000 Patagonia Capital Corp.
E-mail: PatagoniaCapital@hotmail.com |
