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Gold/Mining/Energy : ISLAND-ARC RESOURCES IAR-VSE -- Ignore unavailable to you. Want to Upgrade?

To: The Fix who wrote (14)	1/9/1998 10:42:00 AM
From: VAUGHN	Read Replies (1) \| Respond to of 186

Hello Fix I agree with all that you posted except the last paragraph. I am not convinced that KLA or IAR will liquidate their only cash cows unless it is to accept a net smelter royalty and avoid having to fund after a production decision. SUF could have accumulated KLA's spun off share and those bits and pieces IAR accumulated and chose not to. They have deep pockets therefor there has to be a reason. Kennecott already owns 17% of SUF and could buy them out at any time so why bother chasing after KLA or IAR's share. They will automatically be the operator so there probably won't be any tug of war on this. Kennecott and Chris J. go way back. Both IAR and KLA have other irons but I don't have any faith in the quality of the latters properties and have not put much effort into evaluating the potential of the former's. This is a diamond play for me and the market and I don't believe anyone would buy these two for any other reason. Not at least for the forseeable future. Regards PS. Since you have become a diamond junior follower, check out GMD's December NR on the CNW.