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Gold/Mining/Energy : ATNA ( v.atn t.atn)
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To: Richard Humphrey who wrote (98)7/4/1997 1:06:00 PM
From: Dean Bristow   of 509
 
I recently received the Q1 1997 report and they still sitting on roughly $1.25/share of cash or almost $25 million. They are drilling to expand the 5.3 million tonne Wolverine deposit as well as 5 other Yukon and B.C properties this summer. My impression is that Wolverine is still only marginally economical until they shore up more tonnage.

I think Wolverine is the make or break for this stock as it is a lot less of a gamble. Once they reach the critical mass to make it economic this stock SHOULD start to gain momentum. Nonetheless, with $25 million in the bank there is still opportunities throughout the world available to them that could provide a spark here or there. I like it as a long term hold assuming they start to mine Wolverine and get some positive cash flow rolling in.

Dean
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