LAORF La Teko to be bought by Silverado Mines Message Board

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Gold/Mining/Energy : LAORF La Teko to be bought by Silverado Mines

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To: Jim Andrews who wrote ()	10/19/1997 8:36:00 PM
From: C E D	of 25

This is old stuff but since I follow the stock, I'll fill in a couple of things here. The company's URL is lateko.com. I have traded this stock in the past and made a little money on its ups and downs, for sometime it has been just down! BTW I own 5000 shares at this time. The company has added to its holdings along a minerialization zone north of Fairbanks (where I live), near their joint venture project True North with Newmont mining. Newmont holds a 65% interest in the venture and as I understand it has control over press releases concerning the True North project. They report 1.x mil in proven reserves on six thousand acres of claims, but the results of this summers drilling projects should increase that figure considerably from what I have heard. They have a new CEO and I think the entire board is Canadian. We have a considerable amount of mining activity here in the Fairbanks mining district and a very large operation called Ft. Knox, a few miles from the True North property, that entered into production last year. Fr. Knox employs about 250 people here and I was able to visit the operation this Spring. The Ft. Knox mine has proven reserves of 4 mil ounces on 25k acres of land, considering the the old figure of 1.x (I think this is 2 mil) mil ounces on 6k acres of the True North property and the drill logs indicate the minerialization depth is shallow this could prove to be another "Ft. Knox". These are low grade deposits where the recovery is done in a crushing and chemical leaching process to recover the gold. The company recently sold its holding "Ryan Load" property west of Fairbanks and has other interest in the SW, but it appears the main focus is the Fairbanks mining district. I have been wondering why the lack of news out of this project and La Teko and have come to the conclusion it must be Newmont control of the project True North and possibly they will take over the La Teko company as its worth seems largely to be in the True North property. As I stated before I am a share holder in this stock. Anyone have some insight here?. Ed

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