Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : NOVAWEST RESOURCES INC. (NVE.v) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (1397)	1/26/2001 6:29:43 PM
From: jpthoma1	Read Replies (1) \| Respond to of 1434

Salut Claude, Nothing strong. Nice float, lot of options, but what a beautiful package of land in Ungava! And they have abandonned some pieces recently!!!! They have lost a lot of time and money at Lac Rocher too! JP

To: Claude Cormier who wrote (1397)	1/26/2001 9:24:38 PM
From: I_C_Deadpeople	Read Replies (1) \| Respond to of 1434

keeping in mind that I have no geological knowledge, here we go.. NVE (formerly International Homestead) has just under 20 m share o/s, little cash but a very low burn rate. The company is run by Pat OBrien (note that he started this thread)with a staff of one. The head geologist is Frank Puskas, whom I was told is well respected. The three main areas of properties are Kirkland lake, Timmins and the Raglan. The Kirkland Lake area has a diamond property, "Bucke Pipe" which has some kimberlite in for testing right now. The main property however is in the Raglan near the Falconbridge mine. A small summary of the property:Novawest's Raglan holding is a large assemblage in northern Quebec encompassing several hundred square kilometers (84,500 acres) in the immediate vicinity of Falconbridge's Raglan Mine, which is presently an important world source of Nickel, Palladium, Platinum, Cobalt, and Copper. Novawest has a 100% interest its Raglan Assembalge and has invested $2 million in the project to date. Most of Novawest's Raglan Assemblage adjoins Falconbridge's main Raglan holdings to the east. Some of Canada's most significant Palladium and Platinum values are from the Raglan camp, with Novawest itself reporting Palladium values up to 26.76 g/t and Platinum values up to 9.3 g/t from 1997 surface samples. In spring 2000, AMPLATS the world's largest platinum producer tested a sample representative of an extensive outcropping area on Novawest's Raglan Assemblage at their South Africa laboratory. AMPLATS reported identifying 3 Palladium-Telluride (Pd-Te) phases in the samples and confirmed that their chemical analysis gave a value of 20.4 g/t Platinum Group Elements+Gold. Novawest is pleased to have had such a recognized and respected independent third party report such an assay from a Novawest finding in a zone determined to be approximately 2000 feet in strike length. Other various samples from the Raglan camp area submitted to Chemex for analysis returned notable assays of 21.8 g/t Palladium, 16.5 g/t Palladium, 8.83 g/t Palladium, 5.54 g/t Palladium, 3.37 g/t Palladium. Other values worth noting from the Raglan camp are reported from a Falconbridge property next to Novawest's Raglan Assemblage where drilling on Falconbridge's D-8 and D-9 zones yielded values including 6.45 g/t Palladium, 6.42 g/t Palladium, 5.8 g/t Palladium 3.9 g/t Palladium, 2.7 g/t Palladium, 5.48 g/t Platinum and 2.26 g/t Platinum. It is understood that these holes are placed approximately 200-300 metres from Novawest's boundaries. Details of these findings are noted in Novawest's June 26, 2000 press release. With current Palladium and Platinum prices near or at record highs, and these being some of the highest Palladium and Platinum numbers announced in recent years, the Raglan has attracted the attention of numerous mining companies. Novawest is currently seeking a compatible joint venture partner and its geological committee is inviting proposals to facilitate diamond drilling on a number of the higher prioritized drill targets of the 57 targets identified to date. On their web site, novawest.com , there is a 2001 news release detailing all of the properties and their status. They do not currently have the money to drill Raglan but they believe the potential is huge. This is one of those typical juniors that decided to hunker down when the metal markets tanked, Pat has done a credible job of not diluting a lot during this period. I have bought and sold this stock over the past 5 years, mostly because of the Raglan potential. I have talked to Pat on many occasions during this time and have found him to be honest and forthright. He believes in the Company and has personally supported it at various times. At the end of the day, it simply is a little stock that I fell for and still believe could hit it big time. It sunk to all time lows in Dec, .07, and has gained strength over this past week, now at .41 I believe. I talked to Pat today and he was quite coy about the stock move, obviously not able to say what is going on. I think something positive is up and it is most likely a JV on the Raglan with some 2001 drill commitments. Pat and Frank would like nothing better than to drill the snot out of the property especially with the Platinum and Palladium values stated above. If you choose to talk to Pat and have a look at the web site I would be interested in your assessment of the Raglan.