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Gold/Mining/Energy : Mindoro Resources Ltd - MIO -- Ignore unavailable to you. Want to Upgrade?

To: Ciao who wrote (97)	2/23/1998 10:34:00 PM
From: Stephen Bedingfield	Read Replies (1) \| Respond to of 147

Ciao / MIO news > News release by MIO today. Heavy volume. Looks like the bottom has > been reached and the promotion machine has started. What promotion machine!? Tony Climie has been discussing MIO with a few brokerages' reps, but that is all as far as I know. Tony seems to be quite conservative and wants to grow MIO, not have it promoted to an early grave. Learned today from MIO a few things: 1. for their Myanmar prospects, the previous operator (when MIO had 30%, now 50% and operatorship) wanted to drill a vein it had targeted (good results probably would have resulted in the stock popping up); but when MIO took-over operatorship their modeling suggested a much larger structure, they decided on further exploration to define the anomaly and probably won't be drilling until after Monsoons (November 1998). Now this should make the short-term speculators run: but MIO is interested in a REAL economic discovery. I do NOT get the impression they are promoted. If anyone knows otherwise, please post it here or to me personally <stephenb@polarnet.ca> 2. The Tiris CoW has been signed and this is an excellent prospect though much work needs to be done. Apparently, the operators to the East (Rawas mine, Au, 7km east, operated by Laverton Gold) and to the South have approached MIO suggesting a JV. MIO wants to do its own numbers for now, before even considering a joint venture. IMO, if the prospects are excellent MIO will go it alone; if average they will joint venture. Either action will be telling. 3. MIO will be ceasing work on some of their smaller prospects in Indonesia: of course, this is good - preserves capital for the choice prospects. This is what exploration is all about, right. Regards, stephen (long MIO)