southern africa minerals Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : southern africa minerals

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Leo Raftis who wrote (278)	4/5/1999 8:27:00 PM
From: Neil Thomas	Read Replies (1) of 314

Leo, Info being withheld..don't think so. SAF & Noranda are working on the Caber North, the Caber feasibility study plus additional information. I spoke to Wayne O'Connor for the best part of an hour late last week. I've been out of Province or would have advised earlier. The long and short...I'll be brief. The drill hole (sorry forget the #) that identified the 26% Zn in the Caber, changed the tonnage figure and opened the Caber deposit to depth and others opening it to the east. The result of this and other holes (there were I believe 6 in total scheduled to re-affirm Caber) have caused SAF & Noranda some delay in adjusting upwards their figures. You may remember my previous calculation/estimations on valuation of just the Caber, those appear in Wayne O'Connors opinion to be low and that was without the 26% Zn hole and ignored values for the other metals. The mineralology of the Caber are favourable from a metallurgical point of view, ie coarse grained and lower in iron content. Wayne also mentioned a hole collared to the south of the Caber which has apparantly intersected favouable metal and horizons. Wayne indicated the 26% Zn hole and opening the Caber to depth and east, coupled with the Caber North results have got him very excited and has also aroused the interest in a number of people at brokerage firms. In his opinion the previous lack of brokerage interest was the result of SAF being viewed as only a 400,000 tonne deposit ie only Caber without depth or east and no valuation on the growing Caber North. Finally Wayne indicated a number of retail brokers (1st Marathon mentioned the rest of the names were that of individuals working for firms which I didn't recognize) had come to visit after seeing the display at the PDA and the latest news releases. Sorry I'm short on specifics, I'm really short on sleep. Wayne indicated news within about 2 weeks, specifically the feasibility study and revised tonnage figures and Caber North. Also remember Noranda's next purchase of SAF is in June @ $1.72/share. Neil

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next