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   Gold/Mining/EnergyGHANA - Mining companies in this country


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To: Richard Saunders who wrote (25)3/18/1997 11:38:00 AM
From: Bobby Yellin
   of 48
 
hopefully we can think up some strategy...I really like Birim and
Ghana for now..not in Birim yet..hopefully shortly if I can figure
out what to sell

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To: Bobby Yellin who wrote (22)3/18/1997 12:22:00 PM
From: chevalier
   of 48
 
Hey Bobby, take a look at ITG. They are an active two property company. Their Ghana property, Riyadh, has a resource estimate of around 250000 ounces along 400 meters strike(open) and to a depth of 100 meters. This type of stockwork deposit will typically be open to much greater depths. I think that It is fair to assume a minimum of 400-500 meters thus giving over 1 million ounces of gold. As well, there are other targets on the property that remain to be tested with a drill. I tend to think that this property can host 2+ million ounces alone.

As well, ITG is testing the Diangounte West project in Mali. This project contains gold in numerous stockwork zones. The most advanced is grid 2B which has a 700 meter length to date with widths ranging up to 125 meters. Some great trenches have been found to date(comparable with SJD) 50 meters of 4.56 g/t, 65 meters of 2.5 g/t, 25 meters of 4.19 g/t with a weighted average of around 2 g/t over 30 meters for the entire zone. With any continuity to depth we are looking at several million ounces of gold. We are awaiting further trench results and RC drilling is ongoing at present to test for a 100 meter oxide deposit with enriched values from weathering.
ITG has $7 million in the bank and if memory serves me correctly a market cap of around only $40 million on a fully diluted basis. Looks cheap to me and I think that I am going to give them a call later today.

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To: chevalier who wrote (27)3/18/1997 4:04:00 PM
From: Geoff Trueman
   of 48
 
ITG

If you do call them, you might want to inquire as to yet another below marekt private placement -- and I do mean well below market. Canada Stockwatch shows a PP today at $2.38 per share, not quite so bad as last year's fiasco, but still not terribly inspiring, considering the ability of other company's to finance at market price. Other than this quibble, I do like the look of their projects, and maybe the injection of funds will get things moving.

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To: Bobby Yellin who wrote (26)3/18/1997 8:58:00 PM
From: Essam Hamza
   of 48
 
Hey Bobby,

Did you finish your dd on NWN yet?

Essam.
----------------------------------------------------------------------
Exploration in West Africa

Northwind Ventures Ltd NWN
Shares issued 6,505,982 Mar 4 close $0.26
Wed 5 Mar 97 News Release
Mr Hugh Ross reports
Ghana, West Africa
The company is currently finalizing the acquisition of a large gold
concession in Ghana, West Africa. The concession has significant old
workings throughout the property and the property is within an area of
active alluvial gold mining by local miners.
Upon acquiring the property, an exploration program consisting of soil
sampling, trenching, auger drilling and stream sediment sampling will
commence.
Ivory Coast, West Africa
North has recently made applications with the ministry of mines and energy
of the Republic of Cote d'Ivoire, West Africa, for two large exploration
permits. These exploration permits are in the northern region of the
country and adjoin the southern border of Mali. The concession lies over
two strong magnetic features which are along a north/northeasterly highly
mineralized gold belt. One of the concessions has never been explored by
modern exploration methods. Upon the company being successful in being
granted these concessions, the company plans to conduct a detailed
reconnaissance program over the claim blocks in March 1997.

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To: Essam Hamza who wrote (29)3/19/1997 7:48:00 AM
From: Bobby Yellin
   of 48
 
I have to figure out what to sell...sounds a little early...but
I think early is better when cheap...when you have time call David
Jones at Birim...sounds like a safe play with upside ...they are
going to announce some drilling results shortly...Battle MOuntain
paying for it...their website is great...good maps..
bobby

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To: Bobby Yellin who wrote (30)3/19/1997 9:22:00 AM
From: Essam Hamza
   of 48
 
Thanks Bobby.

Need more cash!

Essam.

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To: Ray Fidler who wrote ()3/20/1997 6:55:00 AM
From: beanster
   of 48
 
Ray, I've been hearing this for about three months. Do you have more current info?

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To: beanster who wrote (32)3/20/1997 9:02:00 AM
From: Ray Fidler
   of 48
 
Beanster: What is it that you have been hearing for about 3 months? We already know about Golden Rule and Hixon Gold that are hot right now with their properties in Ghana. I will tell you that another mining company with operations in Ghana is getting ready to be known out there, hopefully before the end of April. Watch this thread during the month of April for the big news - and big news it may be.

Ray Fidler

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To: Ray Fidler who wrote ()3/20/1997 4:23:00 PM
From: Gabe Heti
   of 48
 
Ray:

I am very interested in hearing about Ghana. What can you tell me? Where is Fairstars property or what is the name of Ghanaian subsidiary?

Is there anything you might want to know from me?

Regards

Mike Hibbard

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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.

Ari

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