MIRANDA--MAD ON VSE Message Board

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Gold/Mining/Energy : MIRANDA--MAD ON VSE

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To: G.T. who wrote (403)	12/6/1998 4:46:00 PM
From: Baywall	of 462

This is a new area for gold/silver deposits, thus some senior firms who have shown interest will probably wait for Miranda to bring the property to a discovery hole stage. (Kaiser Apr.1998) They estimate $1,000,000 will be the minimum, but as often is the case, the costs will be greater. In addition, only 12 sq.km. have been mapped out in detail, while Las Catalinas is 175 sq.km. and the firm wants to survey most of it. Further exploration is required before drilling even starts. Mechanical trenching will probably be first. A JV partner will reduce pressure on Miranda's treasury and avoid excess dilution. Mr.Fagan was assured that no rollback will occur.(Investor's Digest) My personal view is, that initially, Miranda will have to drill by itself targets with the most potential to get anyone on board. Soil anamolies are fine and grab samples are excellent. Widespread mineralization also sounds great, but nothing beats a drilled core sample to show a potential JV partner. Still the interest was shown (See Kaiser's article) and maybe a JV partner is not far away. Thanks for the info. G.T. LVL

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