Hi, Elmar,
Platinova has indeed been a large part of my life for the last 3 years,
but I was not astute or fortunate enough to sell it every fall. I
have held it right through! This year, I hope it realizes the potential
I always thought was there (and still do).
I attended their annual meeting (Toronto version, being Greenlandic
they hold the real one over there). Bob Gannicott explained the
current situations, not saying much that is not in the annual report,
except to clarify a few things:
1- There is almost certainly enough zinc ore in Peary Land to justify
a mine, but not producing until probable 1999 or 2000.
2- The Skergaard gold deposit becomes economic with gold at $450.
3- The joint ventures with Falconbridge are promising.
4- A property held 50/50 with Cartaway looks reasonable.
5- A zinc refinery will probably be built some time in the future at Nuuk.
6- There is an excellent possibility of discovering diamonds on
Platinova property, but this cycle will take a few years as well.
The same people who found the Aber kimberlites have already
pinpointed several promising sites here (They were terrifically
successful for Aber).
7- If there is any excitement this year, it will be oil. I'm sure you
know this story already. Yes, I do think that GRO and PVA will be higher
in late summer, early fall. The quandary is, of course, should I
sell then for a modest profit, or wait for the drill results ?
Each well is planned to be 2500 - 3000 metres, and will take
55 - 90 days to complete. This means that the 2 will be complete
at the end of December, if all goes well. All signs are, so far, positive.
Good luck, and yes, please do keep in touch!
...Chris |
