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Gold/Mining/Energy : ADU.V, Addwest Minerals Corporation LTD
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To: Gord Bolton who wrote (13)1/31/1999 12:36:00 PM
From: CLK   of 18
 
I have the l997 annual report in my file and will pull it out later and post some information from that report as well and the l998 report will be out in a few months with more recent information. A call to the president is definitely worth the dime it costs. Charlie Williams is clearly a top professional with big successful mines to his credit, some quite impressive. Perhaps you could post the list as I did not write it down when he told me. However, I had the feeling that this was leadership worth betting on. This is not a typical VSE company. It has a different style of operation..a real company with real potential. I think the New Mexico property has serious cash flow potential and it has a 100 year mine life. The non silica "nepheline-analcine-syenite deposit is important because the EPA frowns on silica containing sands because of silicosis. The uses of this rare type of non-silica abrasive include 1. sandblast media, fillers and extenders, ceramics, glass and emerging markets. This is called the Wind Mountain Project for your reference. The plan is clearly to have the Zeolite and Nepheline projects be the cash generation that supports the gold mining development. This is the same type of structure that is so successful in the Goldcorp (GG.A) arrangement. Goldcorp is an exceptional combination of an industrial mineral division and a gold mining division. I feel this is a great combination for the current economic cycle.
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