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   Gold/Mining/EnergyGHANA - Mining companies in this country

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To: Bobby Yellin who wrote (30)3/22/1997 9:50:00 AM
From: chevalier
   of 48
Bobby, I had a good chat with Jack at Ghana Goldfields yesterday and came away quite excited. The reason for the share price weakness is Merrill Lynch, who bought a lot of shares two weeks ago at $2.00 is selling them all and thus artificially driving the price down. At the Pampe concession, GHN is currently on hole thirteen. We have already received the first 5 holes assay results. Recent drilling was around hole #5- 59 meters at 3.224 g/t. Widths similar to this one have been encountered and if the grades are similar this is a potential two million ounce target. GHN has moved the rig to a new area north of this target and are drilling two holes at an underground mine target.
We should receive assay results in early April, so there is much to look forward to.
On another bright note, on March 25th the Ghanaian Forestry Department is expected to make an announcement regarding the Flagbase and other concessions that were ordered to cease drilling upon permit receival. It is hopeful and anticipated that permitting will be given out at this time(keep your fingers crossed). Upon permit, GHN should have the Pampe drill on site in a couple of weeks. The pads are already built so drilling could start immediately. I asked who else was awaiting the permit and found out that Anglo, Ashanti, Battle Mountain, Birim, ITG, and Nevsun were among them. I like the chances of a forward step occurring due to the fact that Ashanti has major pull in the country because of the Ashanti Gold mine.
I am planning on adding to my position, barring a complete market plunge next week, as higher share prices are on the horizon, with assays in two weeks and a possible approvable to recommence work on the Flagbase concession.
Let me know what you think.


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To: chevalier who wrote (35)3/22/1997 11:01:00 AM
From: Bobby Yellin
   of 48
wonder why Merrill Lynch was selling..hope Greenspan's talking about
a rate increase has not led people into thinking that all will get
I also spoke with Birim earlier this week...David JOnes is very informative so is the iniatiator of the thread...
I didn't release the world bank had put pressure on Ghana etc about
drilling in reserves etc...David Jones said it was mostly aimed at
the timber industry and not at the exploration companies..
figures crossed (hard to type :) )
bobby--I gained confidence in Ghana Goldfields after talking with
Jack a couple of weeks ago...I think the price also dropped since
I think a lot of people are taking a watch and wait attitude towards the market so .....

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To: Gabe Heti who wrote (34)3/22/1997 12:43:00 PM
From: Ray Fidler
   of 48
Mike: That's a tall order to tell you about Ghana. Long time ago, Ghana supplied most of the world's gold. I believe the mining industry in Ghana slipped a bit in this century, and is now picking up again. Perhaps Ghana will soon become one of the very best countries for production of minerals again. It is certainly a stable country and has a stable economy - probably one of the best in Africa. I am planning on a trip to Ghana some time after April 30th - I'm now in the midst of preparing income tax returns. When I return from that country I will tell you my experiences and thoughts about that country.

As for Fairstar Explorations Inc., the company has 2 concessions in Ghana:
(1) Benso - 150 sq. km. on the southeastern side of the Ashanti Gold Belt. There are 3 highly prospective gold prospects (Amantin, Subriso, Chichiwelli) within the concessions boundaries.
(2) Abuakwa - 215 sq. km. on the northeastern extension of the Asankrangwa Gold Belt. This belt is known to host the Nkran Hill, the Edubia, the Manso Nkwanta and the Bilpraw gold deposits.

The name of Fairstar's subsidiary company in Ghana is Fairstar Ghana Inc.

The two companies, Golden Rule and Hixon Gold, are stirring interest in Ghana. This is only Chapter 1 of the mining excitement in Ghana. Hop on the train for an interesting ride through Ghana's mining country. There's more to come. New mining companies will be appearing on the scene soon; so, keep an eye on this thread for more exciting chapters from Ghana.

Ray Fidler

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To: Ray Fidler who wrote (37)3/23/1997 5:50:00 PM
From: Ice-Man
   of 48 -production figures -general info -reason's for new interest in Ghana 1985 -now -reasons for decline in production 1960-1983 - main page

I didn't know there were over 200 mining/exploration companies active in Ghana. Are there any other companies besides V.ADK that are under $1.00 and have a good chance of hitting something big in Ghana?

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To: Ice-Man who wrote (38)3/23/1997 11:24:00 PM
From: Ray Fidler
   of 48
$$$Markus$$$: Thanks for your information on Ghana. That information is very useful to understand more about Ghana's mining industries. I suggest to all to look at this information.
As for V.ADK, it is funny that you should bring this junior mining company up now. Watch out for the drilling results of GNU and HXG because if they are good they should give ADK shares a boost. You see, ADK is right next to or very near GNU/HXG.

Ray Fidler

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To: Richard Saunders who wrote (23)3/24/1997 10:31:00 PM
From: Solid Play
   of 48
Richard (and Bobby)...I'd greatly appreciate whatever you can tell me about the proximity of the Whiskey Creek (V.WCK) and Newcoast JV Properties from your map.

Whiskey Creek has pressed 40 cents very recently and has pulled back to 25-30 cents on low volume only in the last couple of weeks.

Solid Play


To: Dale Rustebakke (13 )
From: Luc Beaugrand
Feb 3 1997 11:47PM EST
Reply #14 of 14

JV in Ghana, West Africa

Whiskey Creek Resources Inc WCK Shares issued 7,051,175 Jan 31 close $0.33
Mon 3 Feb 97 News Release Mr H. Vanness and Mr T. Bergman report
Newcoast Silver Mines and Whiskey Creek Resources announce a joint venture
project on their properties in Ghana, Africa.
Agreements for the properties have been signed. The cost to each company is
$25,000 cash and 200,000 shares, payment of 50,000 forthwith and the
balance on completion of a work program satisfactory to the regulatory
The company engineer will be on the property within a few days and the
initial work program will be under way.

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To: Solid Play who wrote (40)3/24/1997 11:15:00 PM
From: Dale Rustebakke
   of 48
Solid play: Take a look at ami resources and norcan resources amu v and nre v They have a jv in ghana: they have been doing line cutting, electro magnetics ,trenching and sampling ,they spent about 2miilion? on this project I think, they got a boatload of info, and spent the winter puting the stuff on some kind of computer-generated 3 dimensional plot, as we speak they have built roads to the site and are clearing a site for the drill to test for depths , this stuff is apparently on strike,with some of the big mines in the area, namely the ashanti, and the konongo, We havent heard a lot about either one of these companies, mainly ( i think ) because they are sitting on a large chunk of gold - their release talked about a 9 km long strike /, plus some other areas 5km by 4km .. anyway ...they really dont need us because as soon as the assays come out they figure its all over and the stock soars without the hype . Just my humble opinion ckeck out their websites and news releases Dale

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To: Solid Play who wrote (40)3/25/1997 12:15:00 AM
From: Richard Saunders
   of 48
Map? The thing I'm looking at is "Mineral Concession Index - Ghana, West Africa"........ the two names you tossed don't show.

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To: Dale Rustebakke who wrote (41)4/7/1997 2:47:00 AM
From: Jesse
   of 48
For a cheap & potent Ghana play, look at Patrician Goldmines (PXX,A).
They are at their year low (lower!) and are currently working in Ghana! They are a repeat Kaiser bottom fish (again for '97) and at these prices have such little downside, I can't believe it! Really at a depressed price rite now, due to the latest Bre-X melt down. Really a good bargain at these levels (.30-.50). Read up on PXX, Alberta-
Check them out at their website:

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To: Jesse who wrote (43)4/10/1997 1:04:00 AM
From: Jesse
   of 48
PXX is so cheap now,
it's worth buying just to tuck it! Who'd have thought?! Ghana will be hot (lots coming, from SJD to BGI to Hixon to Fairstar to Nevsun to... many listed on this thread).

Get a near freebie piece of it, and sit on it! PXX (ASE) is at 23-24cents! Hard to go wrong! wow - cheap

Ghana's a comin'

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