To: Famularo who wrote (3397 ) 1/12/1998 3:34:00 PM From: Jesse Respond to of 7966
Hi Folks! No sign of the Jan. Fagan report at his website yet, but the letter is an informative discussion on what to watch for in coming results-- a brief lesson in the diamond exploration process (v.informative)-- a little on potential theories as to who will benefit on location discoveries, etc. It's a very positive report on the overall play. Fagan repeats that any and all land in the area at this stage is prospective, but he does "add" 2 buys to his AB.diam. list, as Frank pointed out: PUG and NCS. The former has the most land interests in AB at 82,000 sq.mi., and the latter is well-positioned with many jv's, financed, and small, tight share structure. Also as Frank pointed out, Fagan commented that MEO drilling (this week) will draw much attention to that region first (SE, adjacent to ACA), and one should not overlook immediately adjacent land-holders during the excitement. --should rekindle a lil excitement (aside comment-- more discoveries in the region will only bode well for all in the area, meaning, it would confirm the find's legitimacy) ____ ACA, as Frank has pointed out, has certainly got the jump, and is the kingpin. As he and Di.Jim have indicated, look for news next week-- never know tho! We're expecting minibulks from K14B, K5 and K6, and K14C, of course. We'll see if the rumoured K6 has some surprises (or any other!). We're also waiting for more aeromag. results, from some of Ashton's other extensive properties. More drill programs should be initiated shortly. Tough day all around today, but a better general recovery than some predicted (after last night's Asian mrkts performance). Cheers, -j :> PS-- ...we should soon see our friends at Canaccord coming on side .)