United Gunn Resources (UGR.V) Message Board

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Gold/Mining/Energy : United Gunn Resources (UGR.V)

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To: Doug W. who wrote (2)	6/23/1997 9:47:00 PM
From: Veteran98	of 42

United Gunn United Gunn has several exciting properties each of which has a fair amount of potential. United Gunn has been hanging on to these situations for several years, the main stumbling block to developing these properties being a lack of financing which seems to have now been resolved. The private placement that was done recently was completed to a German group associated with Wolfgang Rauball. The stock seems to be under quite steady accumulation lately and several times all the offers have been cleaned up to about the .50 level. Each time the stock has been allowed to fall back to the mid .30's and the process started again. Beaver River Gas Property This property is what is being focused on at present . The property is located in North Eastern B.C and is a major accumulation of gas in a structure 10 miles long by 2.4 miles across. It was in production for several years at approximately 230 million cubic feet per day and less than 11% of the estimated reserves were removed before the field was abandoned due to an extremely high rate of water withdrawal. Recent feasibility studies have indicated that if the rate of gas production from the totatl resevoir as a unit was balnced against the water influx then production rate of 50 million cubic feet per day for 30 years would be feasible. The Beaver River Field is estimated to contain over one trillion cubic feet of gas. Western World Project United Gunn also has a 25% interest in the Western World propery located about 50 miles north of Sacramento, California. This is a high grade copper property with reserves estimated at 1,615,000 tonnes of 2% copper, .95% zinc, 1.17 grams/t gold and 14.4 grams/t of silver. Mining permits were originally denied however the political climate has changed dramatically with the feeling that governments will now be a lot more accommadating in order to obtain the much needed jobs for the area. With the price of copper heading steadily upwards these days the potential of this property has grown significantly. Cuisson Lake Mines United Gunn also hold a 30 % interest in Cuisson Lake Mines from which mining commenced in 1986 until April 1992 and United Gunn received $1,942,500 in dividends during that period. The hope is that with the expansion of what was formerly Gibralter, that the reserves on the Cuisson Lake property will be needed to sustain what is now a much larger mining operation. United Gunn has the price of copper in it's favour and also the likelihood mining companies will be looking to stay closer to home in the future. Harry

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