United Keno Hill, UKH, Toronto**** Opportunity Knocks! Message Board

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Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks!

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To: Alan Whirlwind who wrote (1342)	3/22/2001 5:13:08 PM
From: nickel61	of 1348

The Archer Cathro Mining consultants sold their Mayo property to these guys and they tried to refloat it about five years ago. Allan Archer, of Archer Cathro,consultants, used to be the mining geologist for United Keno twenty years ago when it was one of the highest grade silver mines in the world. They are very smart operators but I am not sure they are affiliated in any way with the current management, which appears to be some financial types who are way in debt and have little but prayers left. The Mayo property had some interesting potential seven years ago when I looked at it and this whole thing could be promoted if the silver and gold markets took off, BUT that is a big IF. The Archer Cathro group control the Wolverine discovery and have placed most of their bets on that major silver discovery. This property was origionally owned by Westmin and Atna Resources and made a huge splash in 1995-1996 when Canadian mining stocks were still viewed as viable. The property is spectacular and Archer Cathro now owns it through their corporate structure called Expatriate Resources which is selling for pennies on the dollar of potential. The main knock on the Wolverine deposit was that the ownership was splintered between three different groups and that it was adjacent to a large zinc/silver discovery of Cominco. Over the last five years of a depression in Canandian mining stocks these properties have all been brought together into one company which is largely owned by Cominco,and Billiton,(the acquirer of the Westmin interests who was itself bought this week by BHP(the old Broken Hill Property) of Austrailia) and the Archer Cathro consultants themselves and their families, who are major shareholders along with the large corporate interests. The two major discoveries have some of the highest zinc and silver values ever discovered and when combined with the fact that the major YUKON smelter,Trail Smelter, is also owned by shareholder Cominico, the location in the Yukon may not be as big a problem as once thought. The other major knock that undercut this stock was a high degree of Selenium in the 8 million tonnes of ($265/tonne ore) at the Wolverine discovery. This has been solved according to management with by several treatments and most importantly by mixing it with the ore from the adjacent Cominico discovery that contains no selenium so that the total ore presented to a smelter will have a low enough level of selemium that it will not be a significant problem. The stock which trades on what ever they are calling the Vancouver Exchange nowadays it's symbol is EXR and sells for around Canandian 30 cents and is most likely worth ten to twenty times that if the market for silver or zinc ever allows this type of company to be financed again. The management owns this company very heavily and doesn't much care for outside shareholders or Bay Street "analysts", they seem to think they are either stupid or crooks or both. I Can't say I find that opinion a negative in my experience. They also can blow smoke up investors butts but tend to put their own money where their mouth is and are the most experienced miners in this section of Canada. If you are going to take a flyer on a penny stock that actually has some very significant potential,without wanting to be bumf##ked by some stock broker this one is worth a very detailed look. For background go to the old threads of ATNA ATN on the Toronto and all the hype that they were talking about five years ago on the Wolverine deposit is now controlled by Expatriate and its senior corporate partners,Cominico(owned by Tech Corp and soon BHP) not bad partners, but a property that would need $400/gold and $8/silver to really make financing this deposit worthwhile, the main play is zinc of course but the precious metal credits are very significant in the economics. Most of the Wolverine was silver and minor amounts of gold but there are other properties in the Expatriate portfolio near the same area that have gold kickers in fairly significant amounts. Expatriate Resources has a web site www.expatriateresources.com take a look and post your thoughts if you want to discuss it further.

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