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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: TheBusDriver who wrote (9622)	3/19/2002 7:11:52 PM
From: TrueScouse	Read Replies (1) \| Respond to of 36161

Wayne: I spoke to the company today and was told there are 5,000 metres left to drill in this program. They've been averaging about 200 m. so that's probably about 25 more holes. Paul Sorbara stressed that this is only the first out of 9 areas to be drilled, and there are also other targets on S. Timoteo (sp?). It's a huge property and these 9 areas come from only 25% of it. He also noted that the Newmont people were on site recently and they're not at all phased by the results from the first few holes. Most importantly (from my perspective), there are warrants outstanding at $0.75 that would bring in $6.5 million by October -- so I'll be very surprised if the price doesn't exceed that before then. That would pay for an awful lot of drilling! Regards, Howy