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Gold/Mining/Energy : Alliance Pacific Gold Corp, V.APG (formerly Yukon Gold -V)
APG 36.07-0.9%Nov 6 3:59 PM EST
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To: Brian Warner who wrote ()11/2/1996 11:50:00 PM
From: Peter J Smit   of 209
 
Brian

Spoke with one of their people, Doug Winslow, during the week to clarify some things in their latest news release on 28 Oct.

Let me back up a bit...they were halted on request from the VSE due to the IR company problem. Yukon cancelled the contract and have set up a contract with another IR outfit. They are in the process of applying for a listing in the US (I do not know which exchange)and have hired the IR firm primarily for promoting the stock in the US.

To start trading again, they had to release all results that they had available. Unfortunately they were sitting on quite a lot that they gradually wanted to release over the course of a few weeks. The results from their Buduk property in Indonesia are average and overall results from their Yukon properties were not good, but they are expecting much better results from the Plata Mine and Arrowhead South properties within the next week.

In addition, they had to make some retraction from earlier newsreleases because they had not paid much attention proper terminology. They were using "reserve" were they should have been using "resource" ("reserve" is a more detail definition of the ore body ie many more holes than a "resource")

They were hoping that the IR company promotion would push the stock price to $10 by year end, but after this setback, they are moving the target to Feb/Mar timeframe. My broker is a bit sceptical of this prediction, but I hope it will come true.

Regards
Peter
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