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

To: CIMA who wrote (2464)	2/2/1998 11:57:00 PM
From: The Fix	Respond to of 4718

Hello Cima.....You Asked, "What do you figure their 25% of Rappa is worth?" That's a tough question to answer. I personally think in the neighborhood of 4 to 5 mil. Cdn. at current market conditions and at the stage that this technology is at. I spoke to Dennis about this at the Calgary presentation. He feels that the operating partner in S.A. is fine tuning the roaster and that they are just about there. When all the chips fall into place....I think that ANZ's Rappa share (24.7%) is on the Block. If the POG recovers to the $360-$380 level, than look for a greater price for Rappa (I personally think the POG will remain under $325 for the next year). ANZ will need cash to further explore Indo and Rappa is the vehicle for that exploration.