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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (15070)	7/30/2003 12:56:53 PM
From: bmccra	Respond to of 39344

Thanks very much Russ. I was going to reply to austrieconomist’s 14967 post re Radius, but here you go. Have you looked at Pillar Resources? They have a 60% option on Radius properties, Holly and Marimba. Pillar PRI-TSX Venture is also run by Simon Ridgway, CEO and President of both companies. You lose exposure to the Gold Fields JV, but you get the larger exposure to Holly and Marimba drill programs at a cheaper current price. I was long Radius until the Spring, and then I rotated into Pillar instead at around current prices. Same management, many of the same properties but with an earn-in right for 60%, and what would seem to be better value depending what value you give to the JV with Gold Fields at Tambor. From the Pillar website (www.pillargold.com): - In Guatemala, Pillar is drilling the bulk-tonnage Cerro T Zone - a hot springs gold system - on the Marimba property. Cerro T is similar to San Martin in Honduras (38-million tonnes at 0.77g/t gold), discovered and outlined by Pillar management in the late 1990s. Grid drilling of Cerro T will begin in late July, 2003. - Also in Guatemala, the Banderas & Holly properties, located along the Jocotan Fault west of Marimba, host a series of high-grade, epithermal gold and silver zones. Trenching is underway at Banderas and drilling is planned for late July / early August 2003. - In Nicaragua, we hold more than 1,000 sq. km of highly prospective ground including nine defined gold targets that are close to drill-ready. Radius: Current price $1.19 CDN. Issued: 29,646,492, Fully Diluted I believe around 39m shares but please don't quote me there. Insiders: 12.2%, Cash Position: CDN$4.6-million Versus Pillar: Current price $0.70 CDN. As at July 14, 2003 Share Capital Structure Issued: 14,196,516, Fully Diluted 21,104,766 $3.6m Working Capital as of July 14th, 2003. Insiders 20% of common equity. I'm long Pillar as I'm hoping that the chart says 60 cents is support. b