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Microcap & Penny Stocks : IKAR MINERAL CORP...(IKAR)..looks to be ready & surprising
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To: Laz who wrote (142)3/13/1998 8:05:00 AM
From: Matt Musson  Read Replies (2) of 188
 
I called Bill Kirkland at IKAR yesterday to get the scoop on when mining operations are really likely to begin. He says that summer is more realistic than spring. Right now they are doing a feasibility study with some local groups regarding where to start. They can begin open pitting the iron ore very soon, or start on the Tungston, gold deposits, which may take more time and effort.(Although, there is apparrently already a big pile of feed that came out of the tunnels that they could start processing if they wanted to.)

There is no local equipment for sale. Everything needs to be imported, which takes more time (and money).

The feasibility study will give them a realistic idea about startup costs and cashflows. From there they will figure out how to grow the mine in the most profitable manner.

Eventually, you will see at least two refining operations onsite (1 tungston and 1 other precious metals). Look for a rail spur to move
bulk ore to China and India.

The company will be firming up major funding for this phase 1 mining in the next two or three months.

Also, with respect to unrest in the area, it seems that Nelson Gold was operating during the entire civil war without any significant incidents or shutdowns. (If anyone has any contacts at Nelson Gold, it would be interesting to get their opinion of how the unrest has effected their operation).

THanks.. Matt
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