Senna:
Here is the full news release. Maybe it will start to move now.
P.S. I noticed that your post was to Silviu Moldovan. It seems that he started this thread as a promoter, hyped up CLN, then moved onto other things. He hasn't been heard from for the last 3 months. This stock is a good one (I think); but beware of hypsters which only promote to elevate the price, then disappear after they sell out at a profit.
Claimstaker Resources Ltdÿ
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ CLN
ÿShares issued 10804121
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 1997-05-06 close $0.42
ÿWednesday May 7 1997
ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ News Release
ÿMr R. Somerville and Mr Randy Studer reportÿ
ÿThe boards of directors of Claimstaker Resources and Petro Plus report an
ÿupdate on the progress of the Blackdome gold mine project. In 1996 the
ÿexploration program was designed to confirm and extend the known ore reserves ÿand to partially rehabilitate the mine workings preparatory to bringing the mine ÿback into production. Claimstaker's technical staff has been compiling the data ÿfrom the recent exploration programs as well as earlier data from the period under ÿthe previous operators.ÿ
ÿUnder an agreement with Claimstaker dated May 2 1996, Petro Plus has the
ÿoption to acquire a 50% interest in the Blackdome gold mine by financing a $2.5
ÿmillion exploration and development program. By the end of 1996, Petro Plus hadÿadvanced $500,000 under this requirement. Today Claimstaker has received an ÿadditional $250,000 and has agreed to extend the payment date of the final ÿ$1,750,000 to June 23 1997.ÿ
ÿAs of May 1 1997, the ore reserves as calculated by Claimstaker's geologists
ÿnow stand at 155,933 tonnes (171,838 tons) of proven, probable and drill
ÿindicated ore at an average grade of 14.8 grams (0.460 oz) gold per ton. This
ÿfigure includes 82,990 tonnes (91,455 tons) of proven ore at an average grade of ÿ16.4 g/t gold (0.478 oz/t gold). Currently, Thiele Engineering Services Ltd is
ÿworking with Claimstaker's technical staff to complete a study to demonstrate theÿeconomic feasibility of an early startup of mining and milling operations on theÿproperty. The Blackdome mill, which was mothballed on shutdown in 1991, is inÿgood condition, and requires only minor repairs and changes to bring it to a fully ÿoperational standard. The feasibility study is expected to be completed before July ÿ1 1997, at which time the results will be announced.ÿ
ÿThe present development program at the Blackdome gold mine includes installing ÿa new laboratory and assay office, rehabilitation of the underground workings andÿpreparation of a feasibility study. Claimstaker will continue as the operator of theÿproject.ÿ
ÿMr Somerville also reportsÿFor personal reasons, F.R. Pizutto has decided not to assume the position of ÿmanager of investor relations as announced in Stockwatch March 27 1997.ÿEffective immediately, Paul Wilkman, has been appointed manager of investorÿrelations. Mr Wilkman, formerly a well-known stock broker with a major financialÿinstitution in Vancouver, brings experience in mining and mining finance.ÿ |
