Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Columbia Yukon Resources (A.CYR) -- Ignore unavailable to you. Want to Upgrade?

To: Syncrude who wrote (623)	4/3/1998 9:17:00 AM
From: Flea	Read Replies (2) \| Respond to of 686

Hello Patrick...here's the full text...your link didn't work... Columbia Yukon Resources Ltd - Mustang drilling temporarily suspended; warrants exercised Columbia Yukon Resources Ltd CYR Shares issued 20286888 1998-04-01 close $0.255 Thursday Apr 2 1998 Mr Michael Gustavson reports Columbia Yukon, as operator, along with its joint venture partner, International Butec, has been advised by the Mustang project manager, M.P.H. Consulting, that the Alberta Public Lands office has recommended that drill operations be temporarily suspended due to abnormally warm weather affecting land conditions in the area. The Mustang drill program will continue as soon as more favourable drilling conditions prevail, estimated to be two to four weeks. M.P.H. has advised that the first drill target, PR24-1 in the northeast sector of the property, was completed and the following geology was encountered. Hole PR24-1 was completed at a depth of 79.2 metres in upper cretaceous marine shale of the Shaftsbury formation. The overburden which is 67.1 metres, consists of glaciofluvial/glaciolacustrine deposits of clay, silt, sand and gravel. Sand and gravelly material between 30 and 40 metres contains abundant magnetite and has magnetic susceptibilities approximately 10 times that of the adjacent overburden units and approximately 20 times that of the bedrock. The PR24 target has been satisfactorily explained as being caused by magnetic concentrations in overburden. The target PR25, about 1km to the southwest, has the same signature and has been discounted as a kimberlite target. Drilling will continue, as soon as possible, on the two high priority cluster magnetic anomalies, one in the central section of the property and the other in the southwest region. Waterfront Capital, an ASE publicly traded company, has exercised 700,000 warrants at $0.15, contributing $105,000 Columbia Yukon's treasury.

To: Syncrude who wrote (623)	4/3/1998 11:25:00 AM
From: Simon Lyonns	Respond to of 686

Patrick, In response to your concerns about the Liberty Bell mine, company insiders are now saying that a deal to acquire 100% of this low-cost, 250,000-ounce-plus gold deposit is imminent. And with the price of gold beginning to show early signs of recovery (based party on speculation that European Community member nations will indeed opt to use their gold reserves to back the soon to be implemented EMU common currency), the Liberty Bell mine will, no doubt, soon prove to be a very valuable asset to CYR. I'm intrigued by your view that CYR's relatively low volume earlier this week was a sign that people knew drilling would be suspended by the Alberta government. Maybe, that's why some investors did choose to remain on the sidelines. Certainly insiders say they were taken by surprise and I'd have to take their word for it. After all, it doesn't make sense from a cost perspective and from a promotional standpoint to commence a drill program that's going to be shut down almost immediately. Apparently, spring break-up came a little early this year, which presumably accounts for why CYR was caught a little off-balance. It's a little ironic that all the bad luck we've suffered in spec. mining stocks has now been compounded by unseasonably warm weather in Alberta caused by..... you guessed it ......El 'damned' Nino. Who ever said life was fair? On the plus side, the delay should be short-lived and CYR still has some pretty good targets left to drill. So,we can all uncross our fingers and wait it out for a couple of weeks. Then, we'll have to hope for some long-overdue luck. All the best, Simon

To: Syncrude who wrote (623)	4/3/1998 1:54:00 PM
From: Simon Lyonns	Respond to of 686

I just heard that Columbia Yukon's parent company, Waterfront Capital, has recently exercised 700,000 warrants for proceeds of $105,000 in CYR to top up the company's treasury. So, the insiders are actually buying their own stock in anticipation of positive drill results. At least they believe in their own deal and are gearing up for another financing to further support the stock. Anyway, I just thought you might find this development encouraging. Have a good weekend. Simon