From Aranlee - It's always interesting to read some of the comments provided about the Company on SI, especially if we have not presented a clear picture to everyone as to what's happening. That helps us identify what we should include in news releases or what we need to clarify when someone calls. So, thank you.
Our VP of exploration, Richard Kazda, returned from the Salta office yesterday (14 Feb.). Actually, he started the trip in Kazakstan, so he has lots of info to sort through. Realizing it takes a bit of time to collect thoughts, communicate to Steve Kay and Barry Rayment, and write a news release (with drafted maps), I would guess that Argentina drill results, as well as any surface sample results from other nearby Aranlee projects, will be released at the end of this week, or more likely, the following week.
Reference Kazakstan, although we have some hurdles to get over, I think the Country of Kazakstan will be a great place to explore and develop mines. Here's just a few thoughts. A wealth of money is being invested by very large companies into Kazakstan in many industries. The oil fields on the western portion of the country are estimated to have the potential to match that of the Saudi's, with most major oil companies investing heavily in the area to secure a position. Sansung, the giant electronics company from South Korea, recently established a huge electronics plant in the capital city of Almaty and more recently, announced they were purchasing a major interest in a copper mine and refinery and would invest something like 800 million USD over the next three years. On the gold side, Santa Fe Gold recently purchased the remaining 50% interest on a large tract of exploration ground (called a license area) in northeastern Kazakstan for 3.0 million USD. Also recall that Freidlands company also plans to spend 65 million USD on the further development of the Backychik gold mine in the same vicinity. Someone must have faith that the government will continue to "play ball"!!
One other general comparison I might make after visiting with Richard Kazda on Friday. In his one week in Almaty, we were able to establish a good working office (same building as Santa Fe), furnish the office with good quality furniture (at reasonable prices), acquire 6 strong phone lines (including dedicated international lines) and have very good meetings with the head of the Kazakstan geological division that oversee's foreign company opertions and obligations. This country is far ahead of anything Richard has seen in South America and the resource potential looks very impressive.
Just some thoughts. Again thanks to all for following Aranlee. (jim-k@primenet.com) or (arl@aranlee.com). Jim Kasten |
