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Black Hawk (BHK-tse) is a gold producing compagny ,with 1.5 million oz gold resources. Estimeted gold production: 1996: 40.000 oz 1997: 50.000 oz 1998:100.000 oz After the taking over of Granduc,Black Hawk controls the following properties: -Keystone mine gold producing with 2.8 million tonnes grading 3.5gr/t -Bold Mountain property -Brucide (40% BHK,60% Newhawk;mineable reserve of 350.000 oz gold Newhawk is selling its interest to Canamera for $8 million) -The Hoyle and Hollingworth properties in Timmins area. Kinross is investing $1 million for drillings and $12 million for the development of this property in order to gain a 50% interest. After being hard hit by the market on poor financial results, Black Hawk is expanding its production at the Keystone mine ,reducing costs and developping its best prospect the Hoyle property,its on the right track for a nice recovery,the stock could double in a short period,drillings results could have a great impact on the price,as the financing for the mine is in place. Closing price for Oct 31/96 0.51c +7c volume: 428500 shares I do own shares in BHK;as usual do your homework before buying. | ||||||||||||||
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