Winter in the Great White North Message Board

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Strategies & Market Trends : Winter in the Great White North

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To: ralfph who wrote (543)	4/20/2001 12:16:02 PM
From: tyc:>	Read Replies (1) of 8273

Hi ralph! In my earlier reply to your posting about T.WRM, I told you I had sold my shares. I bought them back today. WRM has some C$25M in the treasury to invest. Before the recent reorg., they said that they were not interested in gold at these prices, but could be interested in base metals. Meanwhile they have a carried interest in the Goose Lake gold project in Nunavut that Kinross is exploring for them. I pointed out recently that the Nunavut government transportation strategy includes an all weather road from Bathurst Inlet to Izok Lake, to provide infrastrucure for mine development (subject to a feasibility study expected to begin this year). This road would help the economics of Goose Lake. Several years ago, a predecessor company, Kit Resources, tried to buy Izok Lake just because of this contemplated infrastructure. Today I read in the Estruscan Resources annual report that they are seeking a buyer for their 60% owned high grade zinc property at Hackett River, which is right on the proposed route of the proposed road. (Cominco holds the other 40%). It just strikes me that if WRM is still interested in Nunavut.. and because of Goose Lake they should be... this Hackett River property could be "a natural" for them. Sorry to be so long-winded, but the mining prospects in Nunavut are most interesting. I just wanted to post this so I can say later, "See, I told you so!"

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