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Gold/Mining/Energy : A CANADIAN DIAMOND HUNT -- Ignore unavailable to you. Want to Upgrade?

To: Famularo who wrote (613)	1/16/2002 2:09:34 PM
From: Pete	Read Replies (1) \| Respond to of 930

I have been holding YPN, a Wawa diamond play for some time- YPN is waiting for the second round of results from the sample taken by DeBeers. These results are supposed to be out in the 3rd week of January. ----------------------- Also as a gold and precious metals play, I like Wolfden (YWO.CDNX) They have several excellent properties, one in a JV with Newmont. They have recently adjusted the terms: Mr. Ewan Downie reports WOLFDEN -- NEWMONT AMEND MONUMENT BAY AGREEMENT Wolfden Resources has reached an agreement with Newmont Canada Limited, a subsidiary of Newmont Mining Corporation (NYSE-NEM), regarding the back-in clauses associated with the Monument Bay Gold property located in northeastern Manitoba. Pursuant to an agreement dated Jan. 5, 1999, Newmont held back-in rights to the Monument Bay property. Newmont has now agreed to waive all back-in rights to the property in consideration of Wolfden making $500,000 payments to Newmont at feasibility and upon commercial production. In addition, Newmont will retain a 2-per-cent net smelter return royalty (NSR), increasing to 3 per cent following the production of one million ounces of gold equivalent from the property. "This agreement with Newmont completes a critical phase of our strategic plan to enhance Wolfden's position in the exploration and development of superior gold properties," stated Ewan Downie, president of Wolfden. "We are convinced that the Monument Bay property is a premier undeveloped gold prospect and this agreement will accelerate our evaluation and development of the project. We expect the Monument Bay project to contribute to the diverse growth of Wolfden's mineral portfolio that contains exceptional properties."

To: Famularo who wrote (613)	1/16/2002 4:43:55 PM
From: VAUGHN	Read Replies (1) \| Respond to of 930

Hello Frank Now that's promotion!!! Wouldn't mind if TWG did a bit of that although this helps my PUG thank you very much. Regards Vaughn

To: Famularo who wrote (613)	1/16/2002 11:00:23 PM
From: Valuepro	Read Replies (4) \| Respond to of 930

Frank, Vaughn, I'm not nearly as excited as the market appears to be for PUG and ACA. I have small amounts of these and have held on for years thinking they've fallen to levels too cheap to sell. In this regard, I am pleased with the recent price action for these stocks. That aside, the press releases on Potentilla and Artemisia are not as good as they appear, IMHO. While the micro counts are high, and form the basis by which many judge Canadian pipes (at this stage in the popular learning curve anyway), one has to note that all the attention is on what is virtually diamond dust. Who cares what the count is from .1 to .5 mm? Further, if one reads the reports closely, it can be seen that there are minimal counts of stones over .5 mm., and no reports of stones over 1 mm. By comparison, TWG has unusually high proportions of stones over 1 mm in their samples and this should make for a better indication of larger, commercial stone sizes than is suggested by what others are reporting in the Canadian diamond hunt (based on micros). Further, something few people understand is that Ashton, via their counterpart in Australia, has proprietary technology in lab analysis. They can plot the diamond yield curve from indicator minerals. They don't need mico or macro counts. With this procedure they were able to calculate the yield at Argyle within 2-3%. Given that they have this technology, they have to keep poking holes in the ground until the lab tells them they are on to something. At this point, I would think it will be obvious to investors because ACA will begin to spend a lot of time and effort with one particular pipe, or cluster of pipes (regardless of micro and/or macro counts). In the meantime, it doesn't look to me as if they have anything they deem all that exciting, despite what the market thinks it knows.