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Gold/Mining/Energy : cancor mines
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To: Brumell who wrote (12)4/15/1999 9:55:00 PM
From: Midas  Read Replies (1) of 66
 
Brumell:

Talked to someone with extensive understanding of the area. I learned that Inco originally owned Cancor's Quebec property and that they spent $1.5 million with modest success looking for VMS type mineralization. They optioned the property to Cancor in 1996 because Voisey Bay came along and the financial commitment it required was so large that Inco terminated most out lying exploration plays. I also understand that Inco still has an interest in the property but no idea as to how much. Depending on the agreement between Cancor and Inco, there is always the possibility that Inco might decide to participate again now that the play appears to be heating up.

Tomorrow should prove to be an interesting day.

Midas
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