It's better to ride Antares through this valley! This company is growing by leaps and bounds! Look at the record.
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I've been following Antares for almost two years now and just look at what's happened
1. Two years ago, all Antares had was a minority interest in the Lady Lina and a 25% interest in Rappa, and an unimpressive war chest.
2. Last year Indonesian property was added that has in 12 months of drilling yielded an estimated one million ounces of gold equivalents.
3. They now have increased their stake in Indonesia from an original 45% interest in just the Ojolali to 77.5% of the Ojolali and the surrounding 29,700 hectares.
4. I read in the recent July 7 news release that a COW will be issued that lumps the Ojolali together with the 29,700. This will greatly simplify the administrative overhead of the Indonesian interests.
5. Presently Antares will begin to prove up the Jambi by more drilling at closer intervals. With proof in hand (and a COW) I expect within nine months the beginning of a low cost heap leach operation in the Ojolali that will finance their ongoing Indonesian exploration and development.
6. If nothing else, ANZ could just package the Ojolali and sell it to a major.
7. The Toodoggone will become 55% owned by Antares by the end of this drilling season. The potential for a major gold find looks promising.
8. The news release of July 7 speaks of ANZ acquiring a new mineral property in North America. My understanding of this prospective endeavor is that the commodity to be produced from this mine is not subject to the vagaries of the metals markets, but is a product that is in steady demand by our North American market. Sorry, but I don't know what it is.
9. Antares will (in collaboration with a MAJOR!) be producing gold in Kazakhstan within nine months at the rate of 80,000 ounces per year. This will yield a profit of about US$12,000,000 a year at current gold prices. ANZ will not get all of this, but let's assume at least half of it. That makes for a hefty cash income of US$500,000 per month by the spring of '99. (DISCLAIMER: These are MY speculative estimates only!)
10. Antares also has a full war chest now to pursues its objectives. How many other junior mining companies enjoy the secured assets and enviable prospects presently enjoyed by Antares?
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So if you want to give up on Antares now, maybe you should look at how far they have come in two years. Sounds to me like Dennis Gray and company are getting an awful lot done for so small a staff in their Toronto office.
I personally am excited about the company's prospects. They've come a long way in a short time and whether the share price reflects it or not, they have indeed built value for the shareholder. I know that whenever I am able I will add to my position and sit back an enjoy a success story rapidly unfolding.
Don DeKold
Gainesville, FL |
