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Gold/Mining/Energy : Caussa Capital (formerly Antares) T.CAU -- Ignore unavailable to you. Want to Upgrade?

To: Ray Fidler who wrote (4062)	8/6/1998 5:40:00 PM
From: Donald F. DeKold	Read Replies (2) \| Respond to of 4718

Let's get on with constructive business of the forum. I called Peter Southward today to find out what shareholders might have to anticipate in the near term. Contrary to the gloom being cast by the current dismal share price, there is no such feeling within the Toronto office. 1. Currently the Ojalali Jambi zone is being proved up for eventual heap leach extraction within an approximate six month time frame. Holes are presently being drilled on a 25 meter grid. It is expected that the 125,000 gold equivalent oz. in the Jambi will yield US$100/oz net to the company. This gives the company a valuation of C$0.42 per share. The Tambang with its high silver content is believed to promise a smaller return per gold equivalent, but altogether would yield a value of C$0.29 to each share. Other properties of the company, again using very conservative rules to arrive at the estimates, show Antares to have at minimum a total value of C$1.13/share. The other sources of value are the 29,700 hectares adjacent to the Ojolali (C$0.05/share), the Toodoggone (C$0.10/share), Lady Lina (C$0.06/share), Rappa Holdings (C$0.09/share), Steppe Resources (C$0.06/share), cash and equities (C$0.06 per share). 2. The company will be launching an initiative to reach key analysts within the investment community to inform them of the significant value in Antares vis a vis the extraordinarily depressed level of share price relative to the above conservative share valuation estimates. It is hoped that many will recognize that Antares is exceptional among other juniors in this depressed market climate. Peter felt that the late summer and fall months will be more favorable for sustaining higher share price if only on the basis of seasonality alone. Hopefully as the company becomes recognized more widely as having the valuation stated that too will influence upward pressure on share price. 3. There is work in progress as I write this with repect to drilling in the Toodoggone. Geologists are very excited about the new Creek Zone targets. As of today they have intersected mineralization in the first hole, but no visuals will be reported. We'll have to wait for assays. The Toodoggone still remains a wildcard in Antares hand, as there is genuine belief by the company geologists that they are probing around what could be a very significant deposit of precious and base metals. 4. There is still an effort underway to acquire the new mining prospect that was mentioned at the AGM and discussed in this forum. (It is not Avalon!) Evidently government red tape is the reason for the delay in announcing their success (or lack thereof) in securing this new prospect. I feel very encouraged by Peter's comments to me. It's unfortunate so much energy is being wasted on negativity in this forum, when there is still much to look forward to from Antares. Regards, Don