TERRY
Just to follow up the Omnitrader recommendation on Tako.
It was long on May 7/07 then reversed the position on May 22/07 to short.
As of today it is long again, however, as Kasperoff and Big Blue have it the story has not been written yet.
TOR is unlikely to move significantly for another 2 months. As you are aware,it has a sister called ILN.V which is poised for a move in the very near future.
I am told that following meetings in NY, Toronto, Montreal and Santa Barbera the interest in financing is very high. this in addition to investment from Hong Kong.
The announcement by International Norsemont will become relevant to TOR following the transactions necessary to finance the Norsemont Interest. After that TOR will be dealt with, I presume as a joint venture partner.
Erickson-Cusac exploration & development plans begin
International Norsemont Ventures Ltd ILN
Shares issued 3,243,946 May 22 close $0.30
Thu 22 May 97 News Release
Mr Peter Lo reports
The company's exploration and development plans have started for its 40%
optioned Nome claim group, within the Erickson-Cusac gold vein system,
south-east of Cassiar, BC. Anomalous gold values ranging up to 2400 ppb. in
soil and up to 1500 ppb in rock indicate a good potential for locating
gold-bearing veins on the property. The Table Mountain gold mine,
approximately 2.5 kilometres north-west of Nome claim No. 2, has produced
over 300,000 ounces of gold to date.
The company's mineral property inventory also contains a 100% owned
interest in the Windsor claim group, consisting of 13 Crown granted claims
approximately 16 kilometres due east of Stewart, BC. Mineralization occurs
in veins and zones within the sedimentary series. Samples taken by Dr
William V. Smitheringale, from earlier prospecting, assayed 54 ounces and
554 ounces per ton, respectively, of silver across 1.5 feet in a short
tunnel on the property. Surface assays ran 0.26 ounces to 0.30 ounces of
gold per ton from a well mineralized quartz vein 100 feet to the south.
(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
I understand that there are mills very close which have the reserve capacity to process the minerals, with no further investment on the part of Norsemont or Tako. This is a hell of an advantage and could indicate production and revenues in a very short time frame.
Norsemont has only 3,000,000 shares fully diluted TOR about 6..5 million.
Have follwed these for a couple of years and done well. The Indonesian properties have been set aside for now, even though a lot was invested there.
I have been accumulating Norsemont and will be patient with Tako.
This will turn out very well with a little patience.
The history of management has been to raise money when needed and move the stock significantly and abruptly when the fundamentals are in place.
If you find a thread on ILN let me know. I would start one but I don't know how.
Ed |
