Any Good Penny Resources Left? Message Board

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Gold/Mining/Energy : Any Good Penny Resources Left?

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To: TomKing who wrote (724)	6/26/1998 1:33:00 PM
From: mark warburton	Read Replies (1) of 753

Ontex ONT alberta, Great value. Low risk. Long story. Briefly for anyone interested: Early 80's joint ventured a northern Ontario property with Metalore. Metalored drilled and stated nothing was found but acquired full rights to the property anyway. Metalore in turn optioned out to Placer who began drilling and proved up 322,000 ounces at over quarter ounce per ton. Ontex went to court to claim Metalore with held key results and won the mine back. Appeals and appeals have now all been settled. Ontex won a million dollar court setllement as well as full mine control as of Jan 1999. This stock orginally hit 9.00 dollars after the original court case. After nearly ten years of appeals the stock has been put to sleep and completely unknown in the market. Placer is again trying to get back to joint venture with the mine owners Ontex. The grades are more then feasible and will be profitable even in this low Gold price environment. Estimates around 150 per ounce to mine. The find is open at depth and strike in both directions as well as the neighboring property which has hit similar grades on the fault line. Placer geologists felt the mine would easily double in resource off the drill holes drilled to date but incresed drilling could expand the resource significantly. Large blocks have gone through recently. Close to a million in the bank and metalore stock (court settlement) Tightly held float. Politically stable environemnt Ontario. Great upside potential. Plans are currently unfolding to drill and mine this property. Take a look, news releases are at isdnwire.com. Grossly undervalued and under followed. No hype from the company. Watch this one closely as everything will begin to unfold shortly. Best of luck trading. Mark

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