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

To: David Parkinson who wrote (2393)	1/27/1998 11:39:00 AM
From: tom shelby	Respond to of 4718

"COW"---Contract of Work As long as we are on this subject. What are ANZ's obligations to keep its COW? Can Antares reduce its drilling rate (ie spending rate) and maintain its COW? I am impressed with the Creek Zone in B.C. but am concerned that Antares may not drill in 1998 if it is obligated to spend all its exploration money in Indo.

To: David Parkinson who wrote (2393)	1/27/1998 11:45:00 AM
From: JD	Read Replies (1) \| Respond to of 4718

COW = Contract of Work It is THE piece of paper to ensure a company can proceed to the mining stage without fear of being completely hosed by the gov't. Without it a company has absolutely no guarantees as to their claim on a piece of development property. They issue SIPPs to allow a company to drill and COWs to allow them to mine the property. Until the COW is issued ANZ can only hope to tread water. Since the pre-fraud debacle with BRE-X the market has shown no significant confidence in Indo plays until a COW is received. JD