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Gold/Mining/Energy : Southern Metals - SUH.V (formerly Aranlee Res. - ARB.V)
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To: Shire who wrote (195)6/9/1997 11:20:00 AM
From: Jim Kasten   of 254
 
From Aranlee. Just checking in to see what's up on a Monday morning. Here's a couple quick answers to recent questions. Re: the private placement, Aranlee announced a US$500,000 private placement at Cdn. $0.46 a couple weeks ago. This should close soon. In addition, the Company is also considering raising some additional capital, but not likely until we have some results from at least the initial drilling at Staghorn Lake (Voisey's Bay), which should start very soon. Drilling on the Centenario project in northern Argentina is also scheduled to start soon, likely in July, depending on drill rig availability. As everyone knows, it's drill results that really drive the share price, so hopefully, we'll have a bit higher share price for any future placements.

Re: Shires question, the Centenario property is along what appears to be the same north-trending fault structure that crosses the Diablillos property (JV with Barrick and Pacific Rim). Diablillos is about 40 km to the south of Centenario. Aranlee also claimed a second property (Elizabeth) close to Pacific Rim. This is a bit farther north. There are some reasonable location maps at the Company's web site.

Now off to work. By the way, if anyone has some suggestions of things the Company might add or change on their web site, we'll appreciate any thoughts.

As always, thanks for your continued interest in Aranlee. Jim Kasten
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