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   Gold/Mining/EnergyGHANA - Mining companies in this country

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

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?

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
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..

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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!


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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

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?


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.


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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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