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There have been a few inquiries regarding Pacific Amber (PCR.V) especially in regards to it's recent upward price movement. Perhaps the following will help. I apologize for the length, but you can't get information from listening to some short catchy PR release or slogan, only fleeced! PCR presently has the rights to 4 properties on the Central Kalimantan Arc (the gold belt that hosts Bre-X's Busang). The current price movement is probably attributable to recent acivities on just 2 of their 4 properties - Tujung and Gungung Mas. PCR is somewhat closely held with a relatively small float. Management, property positions, market capitalization, available cash and promotion are all above average to excellent. (Note: A press release on May 29th announced that PCR has retained the services of a new investor relations consultant, Robert Chalmers. For more information call the company Toll Free at (800)667-3238). TUJUNG - PCR has 90% with 10% belonging to Gothic Resources Inc. On May 14th PCR announced that the continuing exploration of their Tujung property "continue to be encouraging . . . with hand auger soil sampling in progress. Assay results are expected shortly". Some background on the Tujung property - While almost everyone knows of the Central Kalimantan Arc, few are aware of the existence within the gold belt of 3 NE trending rift zones that intersect at approximately right angles with 3 NW trending fractures & ligaments. In the February issue of his invaluable newsletter, Asian World Stock Report, edited by Brian Fagan there is an excellent picture of the rifts, the belt and the major gold discoveries that lay right along these rifts. Of particular interest are those nine locations where the 2 sets of rifts intersect each other. One of those intersections hosts Bre-X's Busang, another hosts Mt. Muro & another Kelian (major gold discoveries). You've already guessed the punch line? Yes, Tujung is located on one of those intersections and contains known gold anomalies. Furthermore, the geophysical properties of Tujung bear a striking resemblence to Busang (keep in mind that no one at Bre-X is breathing a word about exactly what geological factors marked this huge deposit). GUNUNG MAS - On May 15th, the company announced that a drill was in transit for the final 10 kilometers to the property and that drilling would begin shortly. The press release also stated that, "This zone has been extended an additional 500 meters . . . indicating it to be at least 1,100 meters long." Some background of Gunung Mas - Gunung Mas was an operational gold mine that was shut down during the 1940's. It had produced 32 metric tons of ore at a staggering grading of 150 grams per ton - a much higher grading than any other discovery either before or since on Kalimantan Island. Additionally, Gunung Mas lies on the same NE trending rift zone as Busang, Kelian, Marsupa Ria & Mt. Mauro. Some comments - First. This is long enough without going off on the other sites. Second. As long as nobody else puts a drill into the ground, every mining company can buy a one acre piece of land and claim to be "X" kilometers from Bre-X's Busang, and by association, get you to hope that they just may be the next Bre-X. You then will be willing to pay exorbatant prices simply because, since nobody else has tried and failed, "the dream lives on". What the mining companies don't want to happen on Kalimantan is what Voisey Bay got with Cartaway. Third. Everybody knows that there is gold on these two properties. Two questions remain. One, just how much is gold is actually there? And then, exactly how profitable would it be to get it out of the ground? Conclusion. Nobody knows just what the final drill results will be but they do know that PCR owns some extremely well positioned properties, any of which are capable of becoming world class discoveries. They also know that no matter what they find, the report will say that they did find SOME SIGNIFICANT AMMOUNTS OF GOLD! They may be the next Bre-X or they may not. But for EVERYONE involved the dream will still live on. There is no way they are going to "blow the play". NOTE: I am a private investor just like you. I have a modest investment in PCR that was the result of a hell of alot of homework and digging around. I am not a spokesperson for PCR and have done my best to reflect the facts as accurately as I can. I am not responsible in any way for any mistakes. This is not an attempt to solicit anything for anyone. My two best sources were: The recommendation of "The Canadian Speculator" an excellent web site advisory service with a free 2 week trial subscription (PCR was their top pick for Indonesia since December, 1995). And. the afore mentioned Asian World Stock Report (360-267-5107), invaluable to anyone investing in this area. In my opinion, there is more useful information in this advisory letter regarding every aspect of junior resource mining than any other that I have ever read. I would honesty say that the February Issue alone was easily worth the yearly subscription rate. (Brian did rather strongly hint that PCR has a prime pick in this same February Issue, by the way.) Finally, (this is really a pain!) I have no interest in any business, service, company, person, etc that I may have mentioned in this note. I am just passing along some of the kindness that I have received from a lot of very knowledgeable & helpful folks. Remember, "Just ask enough questions, and the decision will make itself." - JED. Good fortune! | ||||||||||||||
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