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

To: lorne who wrote (2107)	1/1/1998 1:15:00 PM
From: E. Charters	Read Replies (1) \| Respond to of 3744

I don't get a clear picture from Holmer that they know exactly where the Timmins thing is going. Until gold price comes back, it will be tough to categorize any mine. They have a good number of holes that have hits and are continuing to drill. Freewest has punched a few holes next door, but I don't know their results. My initial understanding is that they had a narrow high grade zone that continued to depth and a wider open pit thing. Holmer's hit rate seems pretty fair. It really depends on what we hear out of them. Right now they seem to be emphasizing their near term silver opportunity and their sulfide find in Cuba. The placement was obviously a bundling of tax break people at end of year. I tried to get bunch to drill a hole this year on such an idea, but it seems that they were slow on the uptake. echarter@vianet.on.ca The Canadian Mining Newsletter.