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Gold/Mining/Energy : Lucero Resources

LCR 37.71

+0.8%

Nov 24 4:00 PM EST

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To: ziggy who wrote (274)	10/20/1997 12:09:00 PM
From: keith massey	of 703

Ziggy I talk with the IR yesterday and was told that the Alberta drilling was going to start around Jan 10/98 after freeze-up and that no drilling was planned for 1997. CYR/ICA just came out with news but nothing very dramatic. A sulphide intersection at 700M just like Kaiser mentioned a few days ago. They have 500M to hit something or they are going to drop in a BIG way. I don't think CYR/ICA hitting dust will effect the price very much since a lot of people have discounted the Voisey Bay property already. Smokey I don't have any info on the 71% ownership by other companies. However I have checked the private placements and financing since they started and nobody has purchased any huge chunks. Trade workstation on Stockwatch has not shown anyone accumulating the stock in the past 6 months and there have been no big crosses to speak of. If some company owns a massive amount they must have purchased it slowly over a long period of time on the open market. I haven't found any evidence of this but would also appreciate any information anyone else out there might have. Best Regards KEITH

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