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Gold/Mining/Energy : Pacific Wildcat (V.PAW)
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To: Jim Vanne who wrote (10)9/10/1996 11:09:00 PM
From: Dav!d   of 47
 
Jim,

This company has the same management as Viceroy. Pacific Wildcat is a junior exploration company with two properties in Indonesia; one in Sulawesi and one in Sumatra. They have had these properties for over a year and are currently drilling at their Sulut proeprty in Sulawesi. Two major companies (Viceroy and Gwalia) each own 26% of shares outstanding. Unfortunately, both of these companies do NOT promote or release info to ANYONE. I have talked to many brokers and they even have a hard time getting info. They will not hype the stock nor will they predict a target price.

Their major property is called Sulut and is in N. Sulawesi. This proeprty is adjacent to Newmont's Mesel deposit of approx 2 million ounces of high grade gold. Pacific Wildcat's Sulut property has an estimated resource of 800,000 ounces of gold equivalent. This resource was estimated by the past operator and consisted of 39 holes.
Currently, PAW has drilled over 50 holes (most are only to 80m, but they just started in April to drill with a larger drill to 250m). The results are consistent with the previous results and some holes look VERY GOOD (i.e. 132m of 3 g/t).

PAW is in the process of preparing a resourc report that should be done in mid October. This report will contain all vital info that will give an indication of what PAW really has. So far it is a guessing game. Hopefully, they will be able to confirm the 800,000 ounces of gold and possibly increase it to over 1 million ounces.

PAW has a 72% interest in the property but might go down to 52% if all Indonesian JV decide to take part. There are only 9 million shares fully diluted with approx. $5 million in the bank.

Any more info, let me know.

David
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