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Gold/Mining/Energy : Canadian Diamond Play Cafi

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To: teevee who wrote (698)	2/8/2003 2:28:52 PM
From: E. Charters	Read Replies (1) of 16207

All three. Bored, not doing anything and raising money to put an arrastra and sluice box on Wildcat. That, and I owe some money to the DeBillze group. There is a chance if we get aggressive that we can raise money for WC Inc. and pull it out of the toi-toi, but amazingly we get fewer interested parties now than we did this spring and summer. It appears that most loose money wants a trading entity that is issuing paper. Nobody wants to take a chance on building a gold miner. It has always been this way since Cobalt. Nobody could raise one thin dime during the Cobalt rush to actually buy a mill. Banks refused "mining accounts" droves.. Interestingly the CIBC had got its big start in the Yukon goldfields loaning money to miners. They did not lose a sou. The O'Brien syndicate had one of the best mines in Cobalt and had to beg for money to start up. If you wanted to collect bootprints on the backside, one could walk into a Canadian bank, even with feasibility in hand. The cold hard stare you get will make you swear that bankers are actually descended from dead chickens. And Canadians are the hugest miners in the world per capita. The TSE 300 is the richest group of resources companies on the planet. The amount of money we are looking for would build about 7 or 8 donut shops with a small Wendy's on the side. But in Donut shops you can think in terms of getting your money out in about 7 years. We can demonstrate that it should all be recoverable in one year! You can't do that in any other form of investment. At the very worst going into a mining operation at those grades, we would come out of it with experience, a trading vehicle and our shirts on. i.e. the money out only once.. but with equity and a company you still have a chance to go forward. EC<:-}

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