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Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU
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To: tom shelby who wrote (3054)4/9/1998 3:51:00 PM
From: Gabe Heti  Read Replies (1) of 4718
 
Talked to Bob Yeoman to clear up a couple of things that were unclear to me. But first, I mentioned that the resource calculation was due out in three weeks. That comment was made two weeks ago, not five as you stated.

Resource Calculation vs. Reserve Calculation:

We are expecting a RESOURCE calculation not a RESERVE calculation as was asked a few posts ago. A reserve calculation requires a large number of closely spaced holes. This will not happen this year. A resource calculation provides an INDICATION only of what may be in the ground but requires much more work to move towards a reserve calculation.

As far as Strathcona's role is concerned, they will be coming up with the resource calculation on the B.C. property, with ANZ checking the calculations done by Strathcona.

In Indonesia, MRA will do the resource calculation with again ANZ checking the calculation and the results. MRA is doing the drilling in Indonesia.

Strathcona also does checking of drill results at both properties.

It appears that ANZ is doing what's required to assure investor confidence that drill results and resource calculations are clean.

I am still looking to a resource announcement on Toodoggone in the next week to ten days.

Gabe
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