Here is the Kaiser report on Aranlee back in December
in case someone missed it.
Good Luck,
Essam.
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Aranlee went public in 1989 as the subsidiary of an Irish company that soon lost interest in the
junior, which remained dormant until a new group bought control in 1994. In 1995 Yorkton
brokered two priv plcmts at $0.22 & $0.80 to fund exploration of the Staghorn Lake claims in
Labrador optioned 50% from NDT. The market spent 1996 digesting this paper, which came
free in Apr/96. Aranlee spent only $200,000 on Staghorn Lake in 1996, but did get market
action out of the proximity to the Cartaway play. Some drilling may be done in 1997. The real
focus emerged in late 1995 when ARB optioned 8 properties in northwest Argentina that Barry
Rayment and Stephen Kay had put together. Because the option terms are steep ($10.7
million over five years) Aranlee is racing to make or break these prospects: Chinchillas has
been drilled with assays expected in Feb/96, El Oculto drilling will start late December, and
Centenario will follow. With luck these prospects will give the market some good news in early
1997, though management is already looking at new projects not restricted to Argentina or
even Latin America. Because the company has reported nothing of consequence all year, the
stock has fallen into a seasonal slump that will end when a new financing is done and new
projects are unveiled. Although many members of the Bema group are on board, Aranlee is not
a member of the Bema group in the sense that another Argentine junior, Puma Minerals, might
be described. What horse will pull this wagon and why is not obvious, but Barry Rayment,
Stephen Kay, Clive Johnson and Tony Williams are good components to have in the equation. |
