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Gold/Mining/Energy : ECHARTERS

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To: E. Charters who wrote (3124)	4/13/1999 4:07:00 PM
From: richard badauskas	of 3744

You want to talk about rising from the dead, your namesake mine (Charters Towers) in Australia has just resumed production after they sued their receiver (don't have no Chapter II down-under) won a judgement for 20 million bucks!!! after the judgement Princeton Economics of the US pumped in about ten million and they have risen like Lazarus from a terminal shooooting. The local exchange had never had a company come out of liquidation in one piece like this, so the legal stuff got quite complex. The 20 million paid off most of the debt and the extra capital paid down remainder of the debt and gave them some working capital. They have several small high grade open pits operating and are getting ready to drill in the underground soon. Should get really interesting in a few months time, I always thought that this mine could contain a very major, very rich underground system, they are shooting for several million ounces for starters, at grades around 1 1/2 ozs per tonne. You may want to follow this one cause it may turn out to be an elephant, so watch out!!!

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