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Gold/Mining/Energy : Anvil Range Mining -- Ignore unavailable to you. Want to Upgrade?

To: Roman who wrote (127)	2/2/1998 2:56:00 AM
From: Artur Bereza	Read Replies (1) \| Respond to of 143

Some reading from"Yukon News": Harding and Government leader Piers McDonald met with Cominco officials, mainly to feel out what it intends to do with the Anvil Range mine. It owns a 28-per-cent stake in the operation. "They're obviously feeling the ball's in Anvil's court, and they're looking for some kind of proposal." However, officials did express some concern about operating the mine at current prices. Zinc's currently trading at about 51 cents a pound. "But they were not prepared, at this point, to do a lot of speculation openly about what they may do over the next couple weeks heading up to the 16th of February." That's when the court will reconvene to assess Anvil Range's progress on restructuring. "I think they're going to shut down the mill here toute-suite," Harding added. He doubts Anvil Range will continue shipping concentrate throughout the time it was accorded court protection. Trading in Anvil Range stock was suspended by the Toronto Stock Exchange Thursday because the company's future was deemed too uncertain to continue trading on the floor. "There are a lot of different players in this, and they're all taking their positions and, at this point, for some of them, it's very difficult to say too much," Harding said. "There's quite a speculative overtone surrounding the assets. It's not clear who actually would end up in charge of (them). "But if there's no extension, or good progress made on the restructuring, the courts could appoint a receiver, who would then look at selling the property or disposing of the assets - more likely just selling the property."