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Gold/Mining/Energy : Mountain Lake Resources Ltd ( MOA) VSE
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To: jocko who wrote (72)7/2/1997 10:19:00 AM
From: Peter H.   of 598
 
Hi Jocko and Peter.

I've been lurking on this thread for some time now and decided to shoot the $45 to join. MOA is my largest speculative holding and I have great hopes for the future of this company.

I spoke with Allen Sheito shortly after the Wyoming results came out and he was thrilled. He says this is the kind of discovery large companies love. This porphory deposit is perfect for putting the big machines in there to chug away -- its cheap to mine lower grades over a large area. He said he spent two days there with a geologist from a major and this fellow was very excited.

But I think Wyoming is just the icing on the cake. I am really looking forward to great stuff from South Africa. Mooi River should start up again at the beginning of August. Allen said his minimum goal of 20 million tonnes of gravel is an "easy" target. The Ashton JV should get going again around the middle of this month. Drilling there so far has shown gravel depths from 7 to 15 metres -- they were estimating an average of 5m thickness! Again he said he has no concerns about meeting minimum targets. All the rain that has delayed work on both properties has some benefit. Now, after seven years of drought, there are now greater reserves of groundwater and that will make production easier when Mooi River gets going!

Drilling in Ontario any day and in New Brunswick soon.

Anyway wanted to say hello and let you know what I know.

Cheers,

Peter
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