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Gold/Mining/Energy : CVR: V Consolidated Viscount Resources - Ringer???
CVR 9.080+0.9%10:25 AM EST
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To: Lloyd Ashbee who wrote (252)6/11/1997 11:27:00 PM
From: Donald A. Kerper   of 409
 
Lloyd,

Thanks for posting. This is good news. I talked to Tom yesterday and he told me that he would find out as soon as possible when drilling had started and let us know.

Tom told me that these ten holes would all be about 300 to 400 feet deep. Each would take about 3 to 4 days to drill. They have only one rig and crew on the property so to complete the drilling will probably take about a month from now. I do not know whether they plan on working weekends or not.

Supposedly, the geology of the area has the various minerals layered. For example, first would be silver, then nickel, then zinc or some other order. The point is, each layer of the minerals is distinct from the next kind. In addition, the drilled cores should provide a visual clue as to how significant a discovery they have or don't have upon removal of the core.

If this works out, this could be great. As I recall, they already have processing equipment on the site that was installed by a previous owner. Originally the equipment did not work, the previous owner did not have the funds to fix, and eventually the site was abandoned. Cvr picked up the property and the equipment with that last financing deal.

The Mexican mine is also hot on cvr's list to get going. They told me that not only is the cash flow important, but also the mine in production is a critical milestone in their desire to reestablish their credibility in the marketplace. Let's hope it gets going soon.

Don
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