Queenstake Resources (QTR.T) Message Board

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Gold/Mining/Energy : Queenstake Resources (QTR.T)

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To: Robert Dirks who wrote (1567)	12/20/1998 6:08:00 PM
From: Brumell	Read Replies (2) of 2249

Here's the bottom line on Queenstake, Robert. I'm writing this because we both know certain persons appearing on this thread are just too damned quick to inaccurately ridicule and destroy other peoples efforts. At Pico Machay, drilling of 8 holes is now complete and out for assay. Newcrest is the operator and call the shots. Their H.O. in Australia say they will not be releasing assay results until their board meeting scheduled for later in January although once complete, QTR may wish to release them earlier. I've heard no local rumours about these cores but there were some very positive rumours coming from Peru at which time Newcrest apparently tightened the lid. I have no knowledge of their accuracy but interestingly, there was a big run in price and volume of QTR stock on that Friday a few weeks ago. At Guinoloza in Mexico, QTR is the operator. They now have 3 holes out for assay. Drilling has been halted until the first week in January while access trails to more remote drilling locations are completed. To avoid standby charges, the drill is temporarily over at FGX. I don't know how well Barrick is progressing at Uchcumachay. They are the operator on this project and only recently started drilling. They are spending serious money on this project and can be expected to move with deliberate speed. Projects like QTR's don't produce instant results. The terrain is rugged. Large corporations are operators on two of the three properties. They'll move at their own pace and they'll be observing holidays just like the rest of us. Partial results could come at any time but I don't expect it unless leaked. Like waiting for a tax refund, we simply have to be patient. Meanwhile we can take comfort from the fact that Queenstake has not one but three separate projects on the go. That's no guarantee of success but it makes Queenstake probably the best bet in today's junior market. Happy Holidays!!!

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