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Gold/Mining/Energy : ISLAND-ARC RESOURCES IAR-VSE
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To: VAUGHN who wrote (13)1/9/1998 1:01:00 AM
From: The Fix  Read Replies (1) of 186
 
Good Evening Vaughn......

If we are just talking about the Back Lake Claims, I feel that IAR is a much superior company than KLA from an investor's point of view. If you factor in the 8.5 mil shares in IAR as opposed to KLA's 32 mil. Granted KLA has a few more irons in the fire at this point in time (Timmins and Quebec). If and when SUF hits on Munn lake, the percentage appreciation will be greater in IAR as opposed to KLA.

IAR is trading very quietly (this is great IMHO). Many days the "spread" is spread apart greatly. Last week it was bidding .28 and asking .50 or in recent days Bidding .31 asking .40. This is a tighly held stock and I feel that management has no intentions of dumping on the market.

I don't know much about the people that run this company but, from what I have learned is that Phillips (recent former Prez.) was a paper President. Barr (the new Prez.) controlled the lawyer. The word on Barr is that he can move a stock upwards when he wants to. I agree with your point that the spec. craze on this play will take place before the drills start to turn (the price will be run up for sure). IAR will be discovered by alot of people than paying a premium.

If and when a discovery is made, KLA the swing company will selloff the project to SouthernEra or Kennecott. Between the two (SUF or Kenn) the loser will go after IAR. This is what makes this play very attractive IMHO.

The Fix
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