| To: Adjuster who wrote (19) | 11/10/1997 10:05:00 PM | | From: John Soileau | | | |
They're drilling Mac again, started today. 4 holes planned; 2 are for
metallurgical testing by Fluor Daniel Wright, which is moving forward with pre-feasibility. The other 2 deep holes are on the Peak zone,
near the center of the volcanics. They want to know what's going on
deep in there. Shallower drilling of the Peak Zone has found less than ore grade, they want to find the source. They will be looking for a
million, poss from a JV partner, to pay for more drilling next year.
The results of the 2 deep holes may be out by Christmas.
They are interested in the Mex props, but definitely the Mac remains
the #1 property.
I got this from IR, found them very helpful.
John |
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| To: John Soileau who wrote (20) | 11/11/1997 12:35:00 PM | | From: Adjuster | | | |
Thanks very much for the update.
I get the realeases but I am puzzled why there is so little interest in the stock, when they have reported a one billion dollar value on the market value of molybdium reserves.
Ed |
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| To: Adjuster who wrote (21) | 12/5/1997 5:35:00 PM | | From: John Soileau | | | |
They are pretty non-promotional, that's one reason. Also, they
don't have deep pockets, so the deadly enemy --dilution-- is a fear.
Like Getty Copper, they have a great deposit but the magic ingredient, financing, isn't in the mix yet. Tax selling doesn't help either this time of year.
John |
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| To: Adjuster who wrote (23) | 12/14/1997 5:35:00 PM | | From: John Soileau | | | |
A little news, a little dilution:
P R E S S R E L E A S E The Company wishes to announce that it has arranged a Flow Through Private Placement of 1,029,412 Units, at a purchase price of $0.34 per Unit to raise a total of $350,008 (the "Funds"). Each Unit is comprised of One Flow Through Common Share and one warrant to acquire a common share for two year period ending February 28, 1997, at $0.50 per share. The Warrants will be issued upon closing and will be transferable. The Funds will be placed in escrow, with the flow through shares being issued against payment out of escrow from time to time upon the Company producing receipts for qualifying expenditures on Canadian properties. The Company has until May 28, 1998, but not later than December 31, 1998 to incur, and renounce in favour of the investor in an amount equal to the Funds, expenditures on Canadian resource properties that qualify for flow through tax treatment. The Company will expend the funds on exploration of its Canadian resource properties. The placement remains subject to the approval of Regulatory Authorities
ON BEHALF OF THE BOARD
SPOKANE RESOURCES LTD. |
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