International Taurus Resources Inc
Company Profile
International Taurus Resources Inc ITS
Shares issued 26,751,339 May 13 close $0.51
Wed 13 May 98
ITS:VSE - International Taurus Resources Inc is the GMT Newsletter's
(http://www.globalminerals.com) latest resource pick.
The GMT Newsletter consists of a group of individual investors who
specialize in discovering undervalued small cap stocks (both U.S. and
Canadian) in terms of their growth potential, revenue, income, and
acquisitions. Subcription to the GMT Newsletter is FREE from the website
globalminerals.com. Subscribers are updated with fundamentals
and technical analysis 2-3 times per week.
ITS:VSE Technical Analysis as (May 12th 1998)
Bollinger bands have tightened over the last month, bottom band at .44, top
band at .52 - Bullish. Technical Support lies at .45 and has held over the
last 2 months as the stock solidifies in this range. Technical Resistance
lines lie at .75, previous high was $1.50 which could be tested again if
the stock breaks past .75. MACD indicates stock is oversold - bullish. RSI
gave a moderate buy at .45 on 22nd of April.
* Fundamental Analysis
International Taurus Resources Inc. has experienced recent changes that
have positioned the company to quickly evolve into one of North America's
premier mining exploration companies. On April 2nd, 1998, Mr. Steven E.
Parry (now Chairman and CEO) and Mr. Robert B. Blakestad (now President and
COO) took the helm at International Taurus. Mr. Parry and Mr. Blakestad
have some 50 years of combined experience in the mining industry and
together are responsible for the discovery and acquisition of more than 13
million ounces of gold. Already the new management team has achieved
several of its near-term objectives that should ensure the long-term
success of the company. The new management team has acquired the Vancouver
exploration facilities of Cyprus Canada Inc. and has assembled a well-known
team of senior exploration professionals who bring an assortment of
specialized skills to the company. As well, an option agreement to acquire
a 100% interest in the Lyon Deposit in Nevada has successfully been
negotiated. The Lyon Deposit, which has a resource of four billion pounds
of copper with significant gold and magnetite iron, is considered to be one
of the prime high-grade copper opportunities in the Americas today. A
recent financing raising $1,000,000 has been completed and will partially
fund International Taurus' 1998 exploration programs and help fund the
acquisition of up to 52 new mineral properties currently under negotiation.
* Company Management
A critical element in International Taurus' potential for success is its
new management team. The company possesses technical and managerial
resources that rival many senior mining organizations.
Steven E. Parry, Chairman and CEO, has 20 years of mining experience, most
recently as North American Exploration Manager for Cyprus Amax Minerals
Company. Mr. Parry is responsible for the discovery of more than 3 million
ounces of gold and has served as director and/or chairman of a number of
industry organizations including the Prospectors and Developers Association
of Canada. Mr. Parry holds a Bachelor of Science degree from Queens
University and a Master's degree from the University of Western Ontario.
Robert B. Blakestad, President and COO, has 30 years of extensive worldwide
mining exploration and development experience. Before joining International
Taurus, Mr. Blakestad was Vice President, Exploration for Amax Gold Inc.
Mr. Blakestad is credited with the discovery of more than 10 million ounces
of gold, mainly through generative exploration. He holds a Bachelor of
Science degree from the New Mexico Institute of Mining and Technology and a
Master's degree from the University of Colorado.
The rest of the management team includes senior mining, securities, legal,
marketing and finance specialists who bring many years of successful
experience to the Company.
* Projects
Lyon Project, Nevada
International Taurus has recently acquired, subject to regulatory and
corporate approvals of the formal contract, a 100% option on the Lyon
Project, western North America's largest undeveloped copper-gold-magnetite
iron deposit. The 5,240-acre Nevada property has been optioned from Cyprus
Metals Exploration Corporation, a wholly owned subsidiary of Cyprus Amax
Minerals Company, for cash and/or stock payments of US$3.25 million and
work expenditures of US$4 million over three years. Since USX Corporation's
discovery of the deposit in 1960, drilling has defined a bulk-mineable
resource of more than 4 billion pounds of copper and 108 million tons of
magnetite iron. The resource includes three high-grade
copper-magnetite-gold skarns (a skarn is the rock-type hosting the
mineralization) totaling 12 million tons of 3.41% copper. Two of the
mineralized zones host magnetite iron, a readily marketable feed material
used in the production of direct reduced iron and in electric arc furnace
steel plants.
The high-grade skarns have only been partially defined by 44 drill holes
spaced as much as 250 feet apart. Because previous drilling was oriented
for the bulk mineable mineralization, the high-grade zones remain open to
significant expansion. International Taurus believes simple step-out
drilling can as much as double the current resource. Initial economic
studies conducted by International Taurus indicate a robust project once a
core reserve of one to two million tons grading 5% copper is defined within
the existing deposits. This core reserve will be the focus of the Company's
planned $1,000,000 work program in 1998, which will include a detailed
magnetic survey in June followed by a 20,000 foot drill test for high-grade
mineralization (more than 5% copper) in two of the zones. The third zone
will be subjected to a step-out drilling program. Contingent on the success
of the drill program, a prefeasibility study is scheduled to commence in
September and will address hydrologic, geotechnical and mine engineering
issues.
International Taurus' near-term goal for the Lyon Project is to develop a
75 million pound per year copper producer. The potential for associated
production of a high-grade magnetite iron co-product adds significant value
to the project in light of worldwide increases in direct reduced iron
production as well as increases in the price of competing scrap iron. With
rail, gas and electrical power supply available within a few miles of the
project, and the town of Yerington, Nevada located five miles to the
northwest, technical and infrastructure concerns are minimized.
* Corporate Profile
INTERNATIONAL TAURUS RESOURCES INC.
Symbol: ITS-VSE
As of May 5, 1998
Price: $0.47
52 Week Hi/Low: $0.06 - $1.50
Avg. Daily Volume: 50,000
Shares Outstanding: 26,701,339
* Highlights
* International Taurus has a new management team led by senior mining
professionals Steven E. Parry (Chairman and CEO) and Robert B.
Blakestad (President and COO) who have assembled an expert team of
exploration, legal, securities and marketing professionals.
* The company has acquired a 100% option on the Lyon Deposit in Nevada,
which contains over four billion pounds of copper with significant
gold and magnetite iron. The project is considered to be one of the
best high-grade copper opportunities in the Americas.
* A recently completed $1 million financing will fund the company's 1998
exploration program which is designed to bring the Lyon Project to the
pre-feasibility study stage by fall of this year.
* The newly created management team is currently negotiating for 52
other prime mineral properties located in the Americas.
* Additional Information
For additional information and/or a free brochure please contact the
company at the following:
International Taurus Resources Inc.
Website: intl-taurus.com
Email: mailto:info@intl-taurus.com
Toll Free: 1-888-827-6611 (U.S. & Canada)
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