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Gold/Mining/Energy : Safe Environment (SFU.AL) - was Roper Resources
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To: Jim Bishop who wrote (199)6/5/1998 1:17:00 PM
From: Abbeydale  Read Replies (1) of 635
 
Subject:
Stockwatch: Roper Resources Inc - Company Review
Date:
Fri, 05 Jun 1998 10:03:28 -0700
From:
newsout@canada-stockwatch.com


First quarter review

Roper Resources Inc RRN
Shares issued 13,484,300 May 29 close $0.42
Fri 5 Jun 98 Company Review
Mr. Richard Watson reviews the company
In anticipation of improved silver prices the company began the first
quarter of the year by commencing a review of geological and diamond
drilling data generated from previous exploration work conducted on the its
50 percent owned Red Elephant prospect and the nearby Abbott property on
which the company had been granted an extension of its option to earn a 50
per cent interest.
As silver prices improved throughout the quarter initial financing of the
work program was arranged. Actual work on the property is expected to
commence early in the third quarter. The company and its partners propose
to recommence a program of diamond drilling, underground development and
exploration as well as test milling.
During the quarter the company arranged a five year $100,000 (U.S.)
convertible debenture. The interest rate is 8 per cent and funds are
designated to be used as working capital.
Late in the quarter an opportunity presented itself to the company that
relates to the mining industry insofar as mining operations and sites are
generally considered to be hazardous workplace environments. In view of the
well-known and publicized hazards in mining workplaces the company
recognized a new technology that had recently been developed within the
aircraft and defense industries. It is the view of the company that the
market possibilities for application of the technology within the mining
industry in Canada are immense. Thus the company commenced negotiations to
form a relationship with Safe Environment Engineering, a California based
developer and manufacturer of the unique patented communications system.
The communication system of Safe Environment integrates wireless telemetry
to transmit continuous multiple streams of information, including voice
transmission. The company uses its technology in its Life line systems,
which, in one version, enables monitoring of entrants into confined spaces
or hazardous locations and, in other configuration, monitors security
personnel on patrol rounds. The company believes these products to have
wide application in the mining, forestry and petrochemical industries and
intends to assist Safe environment in the joint development of these
markets, which in Canada are large.
It is anticipated that definitive agreements will be reached by the company
and Safe Environment Engineering by the end of the second quarter.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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