From Aranlee - Jim Kasten. Sorry for not being more prompt to your questions, although the Company appreciates all comments, there is not much time devoted to following this thread. Please note that the Company takes appreciable efforts to maintain a clear and up to date WEB site (http://www.aranlee.com/arl/) and you can always e-mail me directly through the WEB site or at (jim-k@primenet.com) or call direct at 602 596 9911.
Rick, thank you for posting the news releases, that's appreciated, and thank you to David and Shire for your continued support and questions. Here's a few thoughts.
Voisey's Bay
From the April 24, 1997 news release, you should note that the Company will be drilling at the Staghorn Lake area of Voisey's Bay this summer. Within this area, NDT Ventures (NDE.V) is Aranlee's 50/50 JV partner and will be the operator of the program. Five to six holes are planned to be drilled by NDT (on its own property), Essex (also a 50/50 JV partner with NDT) and Aranlee. Each of the holes will essentailly be testing a similar target zone that has been identified by the last two years of extensive surface exploration, including appreciable surface and air geophysical surveys. If any of the companies drill holes encounter ore-grade and thickness mineralization, each of the companies are likely to have a part of the same mineralized zone. So for this area, look not only to Aranlee this summer, but also to the drill results from Essex and NDT in the Staghorn Lake area. This is a very good-looking target, everything that we could imagine as indicators to imply an "Eastern Deeps" type target occurs at the surface and in the geophysical work. I've actually walked-out a good portion of the mineralization exposed at the surface and collected a number of Ni-Cu-Co bearing samples from project Aranlee's project 15-1. No promises, but the drill results should be interesting.
Kazakstan
The office staff has spent the last two months reviewing a wealth of geologic data collected from previous Soviet exploration efforts. This is typically high quality data, but was never viewed with any thought to economics. This will be the first month that the snow has cleared sufficiently to allow field exploration work, which has now commenced. From the data obtained to date, plus the field data the Company obtained last Fall, the Company has many targets to follow-up with.
Argentina
Barry Rayment and Richard Kazda (VP Exploration) have just returned from spending two weeks in Argentina. The Company should have some additional news fairly soon, but in the interim, I'll simply mention that drill targets are being defined for at least three projects by extensive surface mapping, sampling and some detailed geophysical surveys (IP - Resistivity).
Warrants
On the mention of Warrnts, the company extended the expiry date for the remaining holders of the warrants that were originally granted in Nov. 1995. The exercise price of $1.00 was the origianl agreed upon price.
Monies
The Company currently has approximately $ 0.3 million and has been approached by a number of institutions with the possibilty of raising additional capital. The Company is very sensitive to dilution of share value by the issuance of stock, so only a minimal amount of funds would be considered to be raised, but a sufficiant amount would be sought to enable success in their exploration efforts and thereby increase the value of the share price.
Management
A fairly complete description of Aranlee's management is provided in the WEB site. The two most active persons providing direction are Barry Rayment and Steve Kay.
I hope some of this helps.
Jim Kasten |
