Chesbar Resources- CBI Montreal Message Board

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Gold/Mining/Energy : Chesbar Resources- CBI Montreal

CBI 16.39

0.0%

May 11 5:00 PM EST

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To: stubbs who wrote (927)	3/5/1999 1:34:00 AM
From: stubbs	Read Replies (2) of 980

Hi All: After talking to Terry I believe we are onto something very promising and exciting.The results were mixed on Anococo(depending what your personal expectations were) but still not bad numbers.We all wanted big numbers(well we did but not big sections) to start like Lassalle but maybe next batch.The holes on the way up were just poke and see on Guac2 so the best targets were not hit.They wanted to get to Anococo as fast as possible so they only wanted to do min infrastructure on Guac2.As for prime targets on Anococco they were in the vicinity and remember you could step over just 10M and the sections could all be reversed.My reason for the comment "hold" was/is for us holding the stock we are going to have about a 3 week delay before drilling resumes.Some will be very disappointed about this but CBI is very positive about the future of Anococo and want to be sure of hole selections.If we were a major then we would just drill the hell out of the area but we have a limited budget.So I hope the long termers understand this as it is the only responsible choice.However we dont only have long termers so the impatient will sell and investors purchasing will be limited until we hit a low that even the critics feel is low(my guess is .25-.30)or we get closer to next drilling results.So at .35-.45 is in my opinion the highs for the next several weeks with low volume.If we get to mid .20s we will see increase volumes as that would be a very good entry level or average down level(again just my opinion).On the positive all holes had gold values and more important is we have the exact Volcanic formation from line 2000-6100 (still open to north) as did Lassalle's excellent results.We have lots of drilling to do on Anococo to prove to all that a pit is possible but again some very promising/positive results thus far .With these results the next 20+ holes will be done on this property and if good results then continued drilling but if negative then a decision to return to Lassalle to prove up some numbers will be probable.Remember Placer's average is 1.2g and Gold Reserve is .9g and both I believe are 80% bedrock.So if you look at early indications we're not to bad off with first batch.Chris has returned to Ven to start some ground work for the next phase so lets wish him the best with our investment.I guess we will be very quiet for the next several weeks until drilling begins but on parting what do you think the value of our stock would be with only 500k oz on Lassalle at a cost of $140 US oz with 45mill shares and POG at $300Us(in a better/good gold market).This is a serious question to determine our min value of CBI at worst case scenario and would love to hear some opinions.I hope you take this as my honest point of view and remember if I was falsely reporting or misleading you for my own benefit would I have said HOLD or BUY?. Stubbs

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