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Gold/Mining/Energy : International Panorama
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To: calafert who wrote (127)6/3/1997 8:18:00 PM
From: John Antoniou   of 264
 
Hi Calafert,

After speaking to Steve, Zak and Rick from ILP and to someone who's spoken to Ken McLoud (?spelling), I can safely tell you that ILP is actually closer to this government than to the previous government. Not only has the present contract been ratified by the government but Kabila's minister of mines has asked ILP to bid on a much larger project (due sometime in September). AMZ and TNK have not been included in this bidding process.

While AMZ and TNK are larger companies, their recent increase in value has been purely due to the Congo situation. While ILP has other properties and money in the bank (company was traiding at 2.40 range prior to Zaire announcement last summer), I do think that the Congo project has the highest up-side potential.

When comparing the three companies, ILP has a higher risk but it also has a higher potential return at these prices.

Comments?

John
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