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Gold/Mining/Energy : International Panorama -- Ignore unavailable to you. Want to Upgrade?

To: jov c who wrote (195)	4/5/1998 9:42:00 PM
From: Well-Informed	Read Replies (1) \| Respond to of 264

To All, Word has it that ILP is on the verge of announcing a JV partnership with at least two senior mining companies to further develop other mining properties in the Congo. One company is from Canada and the other is from the U.S., and they have taken their time coming to an agreement with one another. Everyone knows that ILP does not have the ability to raise much capital on its own, but they do have an incredible asset on their board of directors. This individual has incredible ties with the Kabila regime and the state owned Gecamines. The JV partners realize that he could be instrumental in getting further properties in the Congo very close by to ILP's current property. ILP has secured some financing for the current project through a African bank. I am guessing that we could see companies such as Noranda (through Falconbridge) and Phelps Dodge be the JV partners. With Barrick Gold recently committing over $250 Million U.S. to the Congo, I believe there is little risk in ILP's and other Congo projects not going ahead. U.S. president Clinton met with Kabila during his recent trip to Africa to discuss further U.S. investment. There are tremendous opportunities in the Congo. Hang in there.