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Microcap & Penny Stocks : IKAR Mining Tungsten iron ore gold silver copper cobalt
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To: sam who wrote (579)4/13/1999 4:26:00 PM
From: Jim Johnson  Read Replies (1) of 631
 
Sam,

I know nothing about a law suit, but I did speak to Joe Muller at IKAR today. I didn't ask what his official position is, but he seemed to know what is going on. He was very back offish at saying anything for fear of raising the ire of the SEC, but he did impart some very general information.

The core sampling work was stopped when the deal was struck with EPAR and the drillers went on to other work. They are currently working on getting them back, but have no idea how long that will take. As for the actual core work, that will take approimately 3 weeks time once they are back.

In the meantime, other work is in progress and they have people at the site at this time. He did not elaborate what that work is.

He did say they are in the process of doing the necessaries to get back on the OTC market. Approximate estimated time is 90 days, but there are no promises in that. He said doting every I and crossing every T to everyones satisfaction could cause paperwork to go back and forth for a while. My personal summation: They are in the process of complying with SEC requirements, no promises as to date, but intention is to get back to the OTC.

I asked for any bad news....he said he felt the bad news is behind them.

Jim J
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