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Gold/Mining/Energy : TNR Resources Ltd (TRR.V was Toscana) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Basil who wrote (623)	3/16/1999 11:21:00 AM
From: John Fairchild	Read Replies (2) \| Respond to of 659

I am told the same thing Bob. I am told they are getting lots of interest from ARP shareholders looking to repeat their good fortune. Here is a post I made to "A good Canadian Junior Stock" thread on the weekend. The closest play to ARP that will be drilling before the season ends is TRR. Work started on TRR/OK JV La Ortiga project 12km east of ARP Veladero Amable zone on Nov 11. OK has a current market cap of ~$9 mil fully diluted. OK can earn 60% of three TRR properties all within 35k of ARP by spending $3 mil in exploration, issuing 600k shares and US$340k cash payments to TRR. TRR has a current fully diluted market cap of ~$2.5 mil. OPW has a market cap of ~$20 mil. They have the closest property to to Veladero but have just start exploration and anticipate drilling next season. It is interesting to note that they had previously given up these properties but quickly recovered them when Amable was discovered. OPW of course has now has recognition with the recent agreements with agreements with Falconbridge Ltd. and Barrick Gold Corp. However their stock started the move up from $.40 (currently at $1.80) following the ARP Amable high grade discovery. TRR on the other hand has been all over the map with some huge runups and big volumes followed by sell offs. I think the average investor has been turned off by the volatility. 24 million shares have turned over in the last 5 months with 20 million of those being traded at .43. Right now it is trading at .24 with daily average volume steady at about 100k. Brokerage houses appear to be taking turns in buying in order to accumulate without moving the price up too much. Here is the last NR from last week which again cause a runup simultaneous with ARP takeover news. Note the part where 5 Majors have been paying visits to the property. One other key point is that this NR never went out over the news wire by TRR. It was posted on their web site. The news was issued by their JV OK on Friday after market and TRR put out a shitty NR regarding bad news from their Newcrest JV and went out on the Friday (the market already knew that one as dead play). Here is the TRR/OK news release. Orko Gold Corp - Orko Gold receives La Ortiga results Orko Gold Corp OK Shares issued 6,446,384 1999-03-05 close $1.3 Friday Mar 5 1999 Mr. John Fraser reports Phase 2 exploration on the La Ortiga project in the Valle de Cura area, San Juan Province, Argentina, is proceeding on schedule, with the objective of identifying drill targets. Since the Christmas break exploration crews have completed several kilometres of roads and trenches over the breccia and silicified zones. Rock exposed by this activity has been chip sampled over intervals of one to five metres. Geologists have identified a number of similarities between the La Ortiga property and the nearby Veladero concession being explored by Argentina Gold. These similarities were first suggested by detailed analysis of satellite imagery. The breccia zone is a Veladero-type target in the southwest quadrant of the property. High-grade anomalous values of gold (4.5 grams per tonne) and silver, arsenic, antimony, mercury determined during the initial rock and colluvium sampling, are being confirmed from results obtained from the trenching program. The induced polarization survey presently under way on the zone is being expanded considerably due to the encouraging initial results obtained. This survey is now scheduled to be completed by the end of March, at which time drill targets will be determined. The silicified zone in the southeastern quadrant of the property is characterized by intense, structure-controlled silicification which occurs over an area 1.2 kilometres by 1.8 kilometres. At least one major structure, an east-west trending brecciated fault zone, healed with silica and at least 50 metres wide, cuts across the entire zone. A significant number of samples from this zone contain anomalous high-grade gold and silver values - up to 11.8 g/t gold as well as elevated amounts of arsenic, mercury and barium. Data from the recently completed IP survey will assist in determining possible drill targets within the structure. The encouraging results to date have prompted representatives from five major mining and exploration companies to visit the property, some as many as three times. They have concurred that La Ortiga demonstrates a high level of geological similarities to the Veladero deposit. As reported earlier, Orko Gold has been granted, by way of an option agreement with TNR Resources, the right to earn a 60 per cent interest in this property and two others in the immediate vicinity, with a total area of 148 square kilometres, by making staged cash payments and share issuances totalling $340,000 (U.S.) and 600,000 shares respectively prior to Nov. 25, 2001 and incurring exploration expenditures of $3-million (U.S.) prior to May 25, 2004. The company has satisfied its first-year exploration commitment. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ John