AURIGINOR INC-M.AUI Huge Volumes Montreal Exchange Message Board

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Gold/Mining/Energy : AURIGINOR INC-M.AUI Huge Volumes Montreal Exchange

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To: David L Jarvis who wrote (232)	8/7/1997 10:34:00 AM
From: Francois Plante	of 329

Fresh news from AUI.. Spoke with the office this morning. Auriginor should sign the panama deal before the end of the month. This will give them 100 % of the rights on the field.They have an agreement with Procoloro which will bring 4m$ to the deal,and as partner will keep 50% of profits.aui having to pay their parts by a 4m shares emission to the old owners.this should be done by the end of the month. Steps after that will be to upgrade the production equipment(procoloro) and start the production.Production cost are quite low(estimated at $190 per once)because of the open pit type of mine. They are estimating the production to 30000 onces the first year and 60000 the year after. 250000 onces proven 1,4millions probable The geologist St-Julien who did DD estimate that the reserves are most probably twice this amount according to the fact that only on vein has been explored ,nowing that 3 more could be . estimated share price by the end of year;$1,50 estimated share price by the end of next year`$3.00 estimated share price if reserves are doubled; $6-$7 by 2 years. Aui=good story even if right now ,clouds are all over.. Action will happen this fall. Lets be patient... Hang on and buy some more... Good luck.

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