Nuinsco Resources (NWI) Message Board

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Gold/Mining/Energy : Nuinsco Resources (NWI)

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To: Terry J. Crebs who wrote (23)	5/22/1997 4:58:00 PM
From: Red-5	of 5821

Well here is the lastest stuff. Last I heard the Annual report is due out this week or early next week so all you stock holders should be getting your copy in the mail soon. It will contain a tonnage and ore grade conformation on just the #17 gold zone and only what we have found of it so far. This zone is still pretty much open at depth and to the west I believe and like I said earlier I really think the value they will publish is low or below the actual grade of the ore body (See previous postings by Red-5 for more details on why). It does not give much on the Nickel zone but it may lay out a plan to try and trace or give some new theories on what the Nickel is doing. It will also contain info on the RC drilling results from the winter and discuss the new targets that have been discovered to the West and to the North of our current drilling area. Again I state RC does NOT find new ore bodies it is only a tool to give us targets and an idea of the under-lying geology below all of this overburden. I would compare RC to airborne surveys, and geophysics in the info it provides. RC does give us rock to look at and gold grains to analyze so it is better than the above two in that respect. I am just saying you have to watch RC results because Good RC does not mean Good Diamond Drill results. Surfice to say we have a lot of targets to go after. So you all want to know when the drilling is going to start again and we can see some newer press releases. Well the lack of invester confidence combined the bottom feeders of the stock markets, the near collapse of one of Canada's largest brokerage firms, and the black eye that Canadain mining is still recovering from all mean the money for exploration is REAL, REAL hard to raise now. We spent a large part of the budget this winter and NWI does not want to drain the coffers completetly so drilling is still on stand-by indefinately. NWI is currently looking for some one or some large investment company to take down shares only, it does not want a partner who wants a percent interest in the property, NWI owns 100% and wants to keep it that way. With the stock price in the gutter that means letting out a lot of stock which will dilute the pool out there. I think it is going to be rough on the juniors for several months. NWI I think is going to have to take on a partner to get this job done but when your the company going with your HAND OUT begging for money generally the deal you make is not in your favour because you are not in the divers seat here. NWI has to work fast because NO NEWS in MINING is BAD NEWS and it has been a while since the last release. The annual report I hope will pick things up and perhaps make ir easier to find a backer but you will have to wait and see. Don't bother calling Nuinsco's office in Toronto it is like talking to the living dead or shoveling fog. This companies PR department should be replaced or at least sent back to school to learn some new skills. Doug Hume just can not write a press release, it reads like an obituary, there are to long to confusing, and he has this uncanny ability to make the truth should a bit shadowed. NWI has an amazing property and I hope they can get there shit together to get the job done. There is a discovery to be made on this property, I believe there are several to be made in this area of the Gold and Ni-PGE variety. I will stick my head out and say that. Hopefully it will be NWI who makes them. We just have to find a backer who thinks like me and the rest of us. NWI is working hard right now to make the funding happen and everyone I have talked to is real excited about the new targets and where they are located. So do not read this like it's NWI's last hour or something. We are still quite a ways from that it is just this whole BRE-X thing was real bad timing for us and mining in general. I just do not know how long we feel the damage from this before things return to normal. Till investers lossen those purse strings we are in coma mode like everyone else. I posted this just to try and make some sense out of the developments in the last few weeks and try and explain why things are going the way its going and also why we have not seen much new stuff from NWI. Signed RED-5 (looking for a break in these dark clouds) PS- excuse spelling again PPS- if you are a serious mining stock player you know we have been here before it has just not been this bad. PPPS anyone get any input on how long we will feel the BRE-X sting? also why is the price of gold so low, that europeon common doller still screwing things up?

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