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Gold/Mining/Energy : MONETA PORCUPINE ME.t
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To: John BOYCE who wrote (404)5/4/1998 9:13:00 PM
From: E. Charters  Read Replies (1) of 440
 
They are not email technoid as they are not even on a network. The secretary gets all the email and prints it for the staff. They do not even have an IR department or an IR agreement with a company. As far as I know they do not even run a box on the stock except for Roderick in England. As a matter of fact that points to accumulation as it was a holiday in England and maybe the buyer thought that they could get better prices when the cat was away.

It may be a broker getting prices for a client, The float on Moneta is only about 14 million with all those shares out as most is in institutional hands.

PALL is drilling and on a random basis perhaps they found something. If the share price goes to 60 cents on 4 million shares I would say they have. But I really don't think so.

On the JV front, I would say that will be a certainty within 3 months. But a lot of talking has to take place. And Moneta now knows they probably have 5 million ounces in their entire land package so they will talk a bit tougher than they did to Barrick back at the beginning. Some companies may like their Nighthawk stuff too and a possibility is using the Aquarius mill.

If a company took that property (Aquarius from Echo Bay ) with the future in mind it could mine open pit ore and Moneta's underground stuff too. (both at Nighthawk and Michaud, not far away.)

Moneta will not tackle sole exploration on the Michaud ground that they got back from Barrick until this winter.

echarter@vianet.on.ca

The Canadian Mining Newsletter
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