International Tournigan(ITG.V)announces major discovery Message Board

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Gold/Mining/Energy : International Tournigan(ITG.V)announces major discovery

ITG 30.23

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Feb 28 4:00 PM EST

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To: Chuca Marsh who wrote (26)	1/15/1997 9:21:00 PM
From: Richard L. Brown	of 347

Charles, I've been pretty busy lately...So has International Tournigan. First things first, the company appears to have made a good acquisition in the new Chief Operating Officer..I believe the name is Martin Gallon. Mr. Gallon has been in Ghana for some time and I believe was most recently with Pegasus. He seems to be adding a lot of direction to the company. There was another press release out today with four more cores from Ghana. It appears that ITG is looking at the possibility of an open pit mine potential for Ghana as well as Mali. The average grades for the open pits can average a lot lower and still be very profitable to mine is what I'm told. The release eluded to the fact that ITG estimates the total potential reserves on all of this property at 5.5 million ounces of gold based on all of the geo-chem work and core drills done to date on the properties in Ghana, Mali, and Togo. By rough math..5.5 million x $115.00 per ounce for unmined ore would come out to $632.5 million. Divide the 632.5 million by the total fully diluted shares of 21.5 million = $29.42 per share. The stock is trading at around 2.80 per share Canadian. What do you think here? I heard today from the company that Cannacord Capital out of Vancouver has just put out a preliminary buy rec on the stock and there are other firms very interested after seeing the lastest on Mali and Ghana. Just a few things to think about. I'll post some more later...hopefully a copy of the release tommorrow or you can sign on to www.canada-stockwatch.com log in for a free thirty day trial and check out the latest releases. Thats all for now. Downtown

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