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Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU -- Ignore unavailable to you. Want to Upgrade?

To: tom shelby who wrote (2068)	1/2/1998 6:17:00 PM
From: Donald F. DeKold	Read Replies (1) \| Respond to of 4718

Tom, you say, "One alternative reason for mgmt to move away from their gold projects is poor results are coming." I really don't believe this current speculation will prove to be the case at all. We must consider the fact that ANZ has a lot of property to drill in just Indonesia alone to prove up the considerable reserves I and others believe to be there. Once a junior demonstrates they have reserves, the usual course is for them entice a major JV partner having the necessary capital to develop the mining infrastructure. That is often a perilous step for a smaller company to undertake. (Just ask any one of the credible Coleville directors about Barrick.) With the Erin JV, I think Antares has found a way to develop the cash flow from a boron mining operation in Europe which will permit financing their own gold mining operations in Indonesia and BC. I guess one could also throw in the word "diversification" to justify this move. Pretty smart of them, I'd say. Don DeKold