Quite aware of them, Ron. Please check out the big thread at:
Subject 7460
as we're trying to keep this thread just for releases. Also make sure you read all the releases on this thread...
There are about 5300 posts, so you can't really review them, but you'll get an indication of what's going on.
The short summary is this:
The properties are as follows:
1)Chile Copper/Gold (Mina Claudia) 20% stake. Estimated tonnage "greater than 50 million metric tonnes" (another estimate has been greater than 200) most assays returning >2% copper. Significant
additional areas to be explored and drilled that are expected to dramatically increase reserve estimate. 60% is Last Frontier Oil Co., 20% is Maximum Resources, pending necessary payments.
2)Chile Gold (Andacolla) 20% stake. Current estimate is >6 million tonnes ore at >1g/t, "La Colorada" property (one of the claims) estimated at >1 million troy ounces. 80% is Last Frontier.
3)Ecuador oil- 15% stake. Producing, current estimates around $500,000 profit per month. Some of this has to go to paying off acquisition and future development costs, but a lot of it is in our pockets
4)Utah Oil- Producing, basically just breaking even.
5)Washington Silver- Some talk about going into produstion in 97, but we haven't heard anything about it lately.
6)Indonesia Gold- 20% stake. Still an early exploration property held with XCR-M and CMO-V. We got our 20% as a finder's fee and don't have to pay exploration and development costs until our share of them passes $500,000.
7)Canadian (I think B.C.) Telecom - 100%. Turning a small profit, and expanding at a modest pace.
Approximately 64.5 million NPEC Outstanding as of 2/7 and 2/25/97
Total Shares of LFOC, the rumor at least, is 11.2 million (Includes our 5).
It's a start...
Geoff |
