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Gold/Mining/Energy : challenger minerals CGJ.v

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To: NAUGHTY NOTES who wrote (41)	3/31/1998 8:40:00 PM
From: AuldDruid	of 71

Well, well, I bought in just because the expiring options could put a little money in the kitty, then the company could look around with a jingle in their jeans for a project. I heard they might have a few samples coming back from Africa soon, but nothing huge. Suddenly it looks like they have something really interesting, and a major player looking into it - I must have stumbled over a pile of horseshoes this month for sure. Problem is, I don't understand the report well enough. Does anyone know why they now wouldn't just do an aerial magnetic survey, combine it with some cheap satellite photos, to see if their ground sampling is confirmed quickly. It seems they are entering into a pretty expensive and time/$ consuming process of drilling, which is a bit antiquated compared with modern techniques. Or could it be that they are so sure there's at least something there, they want to skip any interim step and go straight to drilling? Anyone have some more knowledgeable advice? What does drilling in Africa mean anyway - about the same thing as here - several months wait for news? I just have no way to evaluate this - I think I'm off to the library. It sounds and smells pretty good, but I would like to get some reasons too.

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