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Gold/Mining/Energy : Pacific North West Capital Corporation-PFN on Alberta -- Ignore unavailable to you. Want to Upgrade?

To: Brumell who wrote (1590)	5/12/2000 11:25:00 AM
From: Elizabeth Andrews	Respond to of 2255

I've traded IWA a couple of times but it's halted now. I think PFN is trying to establish continuity not tonnage although you get both by infill drilling. I think there's lots of time to buy it.

To: Brumell who wrote (1590)	5/12/2000 2:25:00 PM
From: crudestope	Read Replies (3) \| Respond to of 2255

Dear Brumell, Amplats pays the piper, PFN, and therefore calls the tune. It is in the business of establishing, as Elizabeth Andrews observes, continuity and indicated reserves on the River Valley project. Pleasing short term traders is definitely not on its agenda. I suspect, however, that the more serious money may now be going into PFN. We have run a model based on published information which indicates an open pit resource, and I stress resource, of 60 million tonnes grading 1.5 g/t PGM at US$350 per ounce PGMs. It comes to a tidy sum and PFN owns 35% of it. Another London based mining analyst/fund manager is enthusiastic and optimistic enough to talk of a resource totaling 210 million tonnes. I listened to him in disbelief but as he is in the market for both PFN and ITF........ Have a great weekend. Crudestope.