Valerie Gold (VLG) Message Board

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Gold/Mining/Energy : Valerie Gold (VLG)

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To: Joe Veres who wrote (127)	7/17/1997 11:43:00 PM
From: Abner Hosmer	of 195

Joe - I have not done a lot of DD on this one, but I will tell you what I know. TVX has first right of refusal on the property and has 2 geologists on site who are in charge of the exploration. Goal is a minimum 40 -50 million tons of material at ~$50/ton. The geology is complicated , and they've been having a hard time coming up with enough material. They have quite a few people on the property and one drill. Exploration budget for the quarter that ends at end of July is 1.6 million. After that is the rainy season which will be devoted to evaluating the data. They have also apparently overflown the property and identified several larger prospects that will be followed up at some point. Last I heard, about 18.5 million in the bank. Good luck, let us know if you hear anything. Tom

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