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Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks!
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To: The Lone Ranger who wrote (1023)7/15/1998 8:46:00 PM
From: Harry K  Read Replies (2) of 1348
 
Silver miners slip a bit more - not only UKH, but ASM, SSO, FSR and PAA.

Word from Keno is Dynatec should complete its feasibility study by month's end - until then, financing balance of required funding on hold. Meanwhile, a second contractor is in the wings and interested - I think it may be a potential sub-contractor to DY. It appears DY's staff is pleased with the ore reserves and mine planning so far. The "delinquent filer" flag on brokers' terminals should be cleared this week - UKH issued a comprehensive annual report for last two years in June, and apparently filed electronically for 98YTD - but this got snarled in the electronic filing systems.

Meanwhile, inventory at low of 85MM oz. Kodak buying silver forward, a sign of anticipated higher prices, something they're not into doing. As photography catches on and becomes affordable in the third world, silver usage will soar - and many precious metals mines are cutting back or going to care and maintenance - so supply shrinks. Something's got to give somewhere.

On the other hand, funding for mining ventures currently a wasteland - caused by perception of mining as yesterday's action - so UKH will continue to find it hard to get that last chunk of cash! They're not alone.

We can only watch and wait - ... Comments?

Harry K.
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