Antares Strategic Plan
I followed Waynes advice and went to the Antares home page and sure enough the overall strategy listed below) has been updated as of Nov 18/98 also the corporate profile (stuff we already knew)
I have a few comments. The strategy is merely words, in the Jr business words are intended for the retail investor.(to part with their money) They have spent (I forget the number) lets say 14 million dollars, and now we are told they are going to be frugal. Wow, I'm impressed at least I know why I only have 15c on the $1, the way I see it I'm lucky, it probably should only be 5c on the $1.
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OVERALL STRATEGY
(a) Asset
(b) Status
(c) Strategy
1(a) RAPPA
1(b) Non Strategic
1(c) Divest 24.75% interest for value. Rappa operating earnings of at least R10,000,000 after tax projected for year ending March 31,99.
2(a) LADY LINA
2(b) Non Strategic
2(c) Divest for value.
3(a) OJOLALI
3(b) Core Asset
3(d) Continue exploration to add to resource base as working capital allows. Progress grant of COW. Possible high grade zone at intersection of Chandra and Tambang zones at 200 metres depth. 34 untested targets indicating potential mineral occurrence.
4(a) TOODOGGONE
4(b) Core Asset
4(c) Continue exploration as working capital allows. 28 untested targets of mineral occurrence potential.
5(a) STEPPE GOLD Res
5(b) Portfolio Investment
5(c) Initial convertible debenture funding by Antares designed to stabilize Steppe, to enable the raising of additional financing by Steppe to develop their gold and base metal properties. No further funding contemplated by Antares. Debenture can be converted into an interest in Steppe properties.
6(a) Other Assets
6(b) Non Strategic
6(c) Divest other assets, such as surplus mining equipment, for value.
7(a) Vetpan Diamond Property
7(b) Core Asset
7(d) Invest $850,000 to take bulk sample. Finance bulk sample partly by proceeds from divestment of non-strategic assets and partly by assignment of exclusive diamond marketing rights. Objective is to initially generate $2,000,000 to $4,000,000 in annual cash flow to Antares from first Vetpan production unit and to increase this cash flow by adding additional production units over time.
8(a) New Assets
8(b) Core Assets
8(c) Identify further properties with potential to generate early cash flow following low capital expenditures.
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