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Gold/Mining/Energy : Int'l Wayside Gold Mines Ltd (IWA-VSE)
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To: Claude Cormier who wrote (1145)5/19/2000 12:23:00 PM
From: teevee  Read Replies (3) of 1321
 
Claude,

A newspaper article by David Baines claims that the president of IWA stated the reason why there is a halt is for the exchange to investigate the veracity of IWA's boast of a one million ounce resource. The seriousness of this has not been acknowledged on Stockhouse or here. The last company to have its claims of a one million ounce resource investigated by regulators was a company called Ridell Mining. The resource was ultimately downgraded to a fraction of the claim, the stock was delisted and one or two of the Ridell mining people ended up in the crowbar hotel. Reports of the exploration site being a "mess" are not encouraging either. IMO, shareholders had better hope and pray there is actually an offer from a major, and for the company, and not to earn in. Every indication suggests that this is going to end badly. Other concerns I have are the contrast in styles of mineralization between hole #9 and #13. Hole nine is indicated to be auriferous carbonate (dolomite)stringers and hole #13 is rreported to be semi-massive to massive pyrite with the amount of gold apparently being relative to sulphide content. As for the check assays, they only prove that there was gold in the whole core samples that were shipped. A microscope review of any remaining reject should be done to confirm, if possible, short of re-drilling the holes, whether or not the gold is naturally occuring or placer gold dust added to the sample. More information on actual sample intervals and results for each interval would also be helpful as a statistical analysis of results would immediately raise any red flags if there is a tampering problem.
regards,
teevee
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