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Gold/Mining/Energy : MILL CITY MIY-V -- Ignore unavailable to you. Want to Upgrade?

To: eyewatch who wrote (593)	6/19/2002 2:37:55 PM
From: VAUGHN	Respond to of 707

Great minds think alike - must be why we took a flyer on MIY! I haven't been following the NWT field news the way I used to eyewatch, I've been far too busy. Having said that however, I am aware of some interesting developments on a few plays, but I suspect the impact will be felt in the market next spring not this year. Too late in the N. Slave now. Further to the east however, if you have been following TWG, you might do well to pick up some on any dips that occur. Of all the Canadian diamond exploration plays out there, I believe that one has the most potential to be a mine and not just a promotion. They have several huge diamondiferous pipes (only one drilled to date) and numerous smaller ones but still much bigger than any in Lac de Gras. The property is next to a natural deep sea bulk shipping harbor and trained labor and infrastructure is only 100km away. Few if any environmental concerns and Kennecott and DeBeers have staked huge claims around them. The only pipe drilled to date appears to have the potential of producing larger than average high quality goods and initial grades are similar to most of the producing pipes in the RSA and Namibia. If Jackson Inlet (TWG) becomes a mine, it will be a very high volume long lived one. Much longer than Ekati or Diavik and therefore should eventually offer investors higher multiples than Aber can or Diamet could have. Several years of speculative bumps ahead so if that is your focus, you should have some good opportunities. Having said that, TWG is not a promoted play like ACA, Kensington or Majescore and unless some tout gets on board, I don't anticipate the huppla that usually results. There is a strong likelihood that TWG will need to raise developmental capital this fall or sell a stake to deep pockets, so you should be aware of the opportunities and risks that would result. There are a few metals, IT security and drug plays of real interest, but the PreCambrian Shield diamond speculative season is almost over. I wouldn't be jumping in on any play with moose pasture claims as lake ice strength is gone. TWG however is a High Arctic play and therefore an anomaly in that respect as it is in an Arctic desert with outcropping pipes, therefore drilling through ice is of no concern. There are no lakes hence no DFO issues, no caribou, etc. and no nesting areas, hence no wildlife issues. There is no physical limiting factor to summer drilling hence there should be fuel for the market. The drilling season in the High Arctic is just starting and TWG will be drilling 8-10 of those other pipes. They have found large diamonds in till so if a core gets pulled with a rock hanging out, you can appreciate what the market will do. The question is, will this spring's lousy market, simmering international tensions, building recovery and gold & oil jumps result in a summer rally or the usual dulldrums? I'm betting there is a lot of nervous money on the sidelines just waiting for signals of a turnaround or speculative opportunity and therefore this may be one of the three or four years every decade when there is some real money made between July 4th and September 1st. We'll see. Good luck. Regards Vaughn

To: eyewatch who wrote (593)	6/25/2002 2:08:04 AM
From: VAUGHN	Respond to of 707

Hello Eyewatch Screw up de jour: Monday June 24, 2:07 pm Eastern Time Press Release SOURCE: Mill City International Inc. Mill City International Inc. - Ottish Mountains Update CALGARY, June 24 /CNW/ - MILL CITY INTERNATIONAL INC. (MIY-TSX-V) (MIYN-OTC) ("Mill City" or the "Company") announces that it has entered into a further agreement relating to the previously announced acquisition of 188 Ottish Mountain Claims (approximately 8,780 Hectares) in the Ottish Mountains area, Quebec. Subsequent to entering into the original agreement and taking into account the recently announced pending reorganization, management of the Company determined that it would be in the Company's best interest to defer completing the acquisition as originally contemplated. As a result, Mill City and the Ottish Mountain Claims' owner entered into that further agreement pursuant to which Mill City paid a fee to reimburse the Claims' owner the staking costs in return for relieving the Company from any further obligations under the original agreement. Mill City has retained a right-of-first-refusal should any third party make an offer to acquire the Claims and further, Mill City has the right to have the Claims transferred to it in the event of the existing Claims' owner not wishing to keep the Claims in good standing. As a result of this most recent agreement, Mill City is no longer required to complete the purchase which would have otherwise required Mill City to pay $90,000 and issue 1,250,000 common shares. "Larry D. Revitt" Larry D. Revitt, President Regards Vaughn

To: eyewatch who wrote (593)	7/8/2002 3:10:07 PM
From: VAUGHN	Read Replies (1) \| Respond to of 707

Hello Eyewatch I would appear that our faith has finally been rewarded! > Tanqueray et al. receive Yamba Lake drilling results > > SouthernEra Resources Ltd SUF > Shares issued 44,750,300 Jul 5 close $5.99 > Mon 8 Jul 2002 News Release > See (TQY) News Release > Ms. Linda Falkenberg of Tanqueray Resources reports > YAMBA LAKE DRILLING YIELDS ENCOURAGING DIAMOND RESULTS > Tanqueray Resources, together with joint venture partners, Mill City > International and Techsite Strategies, have been advised by SouthernEra > Resources of the results of their recent drilling program. > SouthernEra's first drill hole into the Sue kimberlite pipe on the Yamba > Lake project in the Northwest Territories of Canada has generated diamond > counts comparable with the producing pipes at the nearby Ekati mine. > The Sue pipe is one of seven known kimberlite pipes at Yamba Lake. Its > surface expression is estimated to be 150 metres by 100 metres -- similar > in size to those at Ekati. The first hole at Sue, drilled at a minus > 45-degree angle, intersected 172 metres of kimberlite yielding a sample of > 226.7 kilograms. This sample, independently tested by Saskatchewan Research > Council's geoanalytical laboratory, returned 77 microdiamonds (using a > 0.106-millimetre mesh bottom screen) plus 18 macrodiamonds having one > dimension greater than or equal to 0.50 millimetre. Within this sample, the > best results were generated within a 71.35-kilogram portion returning 52 > microdiamonds and 17 macrodiamonds. The hole was stopped in kimberlite. > Most results in the Northwest Territories have been reported using a > 0.15-millimetre mesh bottom screen. On this basis, the 226.7-kilogram > sample yielded 30 microdiamonds and 18 macrodiamonds for an encouraging 0.6 > macro/microdiamond ratio, once again comparable with published data on > economic pipes in the area. The smaller, higher-grade Sue sample yielded 21 > microdiamonds and 17 macrodiamonds for a 0.81-macro/microdiamond ratio. The > majority of the diamonds from Sue were white in colour. The four largest of > the recovered stones measured 1.44 by 1.10 by 1.04 millimetres, 1.56 by > 0.72 by 0.66 millimetre, 1.16 by 0.64 by 0.5 millimetre and 0.90 by 0.76 by > 0.60 millimetre. In addition, 11 of the macrodiamonds are greater than 0.5 > millimetre in two dimensions. The competent person on the Yamba Lake > project is H. Bird, BSc. > SouthernEra chairman, Dr. Chris Jennings, said, "The initial results at Sue > are very encouraging -- amongst the most encouraging I have seen from early > stage drilling results in the Northwest Territories." > SouthernEra president and chief executive officer, Patrick Evans, added: > "Over the next few months, SouthernEra plans to drill three additional > holes at Sue to determine the stone size distribution from a larger sample > and also to better understand the structure of the Sue pipe. We will also > drill a new geophysical target identified in last year's exploration > program and drill test some of the remaining seven kimberlite pipes at > Yamba Lake." > SouthernEra can earn a 60-per-cent interest in the project by completing a > bankable feasibility study by the end of 2006. Upon earning its 60-per-cent > interest, the remaining interests in the property will be Tanqueray -- > 16-per-cent interest, Mill City -- 15-per-cent interest and Techsite -- > 8-per-cent interest. Under certain project financing arrangements, > SouthernEra can increase its interest to 65 per cent by arranging on behalf > of all parties, 100 per cent of the required capital cost financing set out > and defined in the bankable feasibility study. Should SouthernEra arrange > such financing, the remaining interests of the other parties shall be > reduced proportionately. > (c) Copyright 2002 Canjex Publishing Ltd. stockwatch.com Regards Vaughn