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Gold/Mining/Energy : Fairmile Gold -- Ignore unavailable to you. Want to Upgrade?

To: wychwood who wrote (3208)	11/1/1997 11:38:00 AM
From: I_C_Deadpeople	Respond to of 4057

Previous to the last release, the resource was at about 617,000 of which 500,000 was a/b/o. With the new release, the total is just under 700,000 of which about 600,000 is a/b/o. I was just reding on another thread that Echo Bay had a property around Timmins that took them 1500 drill holes to get a resource of 1.5 million ounzes. Maybe the pace we are at is not all that slow after all. As for Echo bay, I am very leary that they will continue with this arrangement in it's present form. Firstly, Echo themselves are a corporate mess right now - new mgmt., high cost to produce, etc. They have been talked about as a takeover target. Secondly, I believe that if they do stay in the deal the next pp will be renegotiated to a lower price, maybe 1.00 or 1.50. They know that with or without them FLA will need cash to drill next year and it is better to get it at 1.00 than .40 . I hope I am wrong on this one....