Abacus Minerals Corporation (V.AMC) Message Board

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Gold/Mining/Energy : Abacus Minerals Corporation (V.AMC)

AMC 2.515

+0.2%

Nov 5 3:59 PM EST

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To: Mr.Staya who wrote (186)	6/9/1998 6:04:00 PM
From: John Fairchild	Read Replies (1) of 397

Thanks Ric, I have heard the same thing. They decided to release all holes at once to stabilize the trading. Again not even Steve has the results as they are all being held until all holes are available for reporting at once. I received my annual report in the mail yesterday and the property is just like it has been described. A dome structure visible for many miles rising out of the plateau. The long deep bulldozer trenching is very apparent as the dome is totally barren with rock outcrops throughout. The more I hear about this company the more I like. Steve Todoruk is a very well respected and well connected individual. The majority of the US$3 mil financing is ear marked for Niblack. La Manchuria created enough interest in the company to bring up the stock price to a level which made the financing possible. Once they begin underground operations at Niblack it becomes a year round operation. The thinking is that when they establish a 5 million ton resource Teck will step in and take over the project following a prefeasibility. Note that one of the 4 board members is Kenneth Thorsen GM of Explorations Teck. The Ferragudo project in Portugal is another example of Steve's abilities. It took him 8 months to get his hands on this property. Steve was in Portugal speaking at a conference on VMS deposits. He visited the Neves Cuoro Mine which is one of the world's richest and highest grade VMS deposits.The government had done some surface work on the adjoining properties and made it available. Steve not only managed to get his hands on it but also managed to attract Phelps Dodge to a US$7 mil JV for exploration costs. Enough work has been done on the property that drill targets are already defined with high expectation that Phelps Dodge will be drilling this year. In short I think that patients will be well rewarded with this company. La Mananchuria results are expected next week and we may well see confirmation of a major discovery here. The dome structure occurrence in the middle of the plateau represents the potential of a large system and the discovery hole certainly proves the existence of high grade ore body. John

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