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   Gold/Mining/EnergyGHANA - Mining companies in this country

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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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To: Bobby Yellin who wrote (36)4/16/1997 9:52:00 PM
From: John Osborne
   of 48
What is your take on the 2 releases by GHN over the last two days. They are paying a pretty good penny to increase the size of their holdings on the Pampe concession and their release yesterday seems to indicate they will have some good numbers coming out within ten days.
Any thoughts,

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To: John Osborne who wrote (45)4/17/1997 7:10:00 AM
From: Bobby Yellin
   of 48
I am going to call today and see what I can find out...I am underwater
but I think as many wise people have pointed out the end of April shall be a new beginning for the juniors...cows will be signed in
Indo,Bre-x hopefully will be resolved..Arch Crawford says it will be
a good time to buy gold unless something else happens..
I am also going to call birim...they should have an announcement soon..sounds like gnu golden rule hurt by opacwica(sp)....Channel
Resources looks like it might have bottomed..
I try to look at a lot of the companies in the area to see if there is
a pattern

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To: John Osborne who wrote (45)4/25/1997 3:40:00 PM
From: Sudhir Khanna
   of 48
The Resource Indicator did a write-up on Ghana Gold (GHN) in the March issue. If you would like that issue as a free sample, please e-mail me at Put GHN-free sample in the subject field.

Sudhir Khanna, P.Eng.
Editor, The Resource Indicator
Staking VALUE before others

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From: hot_metalz11/29/2007 3:56:55 PM
   of 48
PMI Gold Sees Shareholder Growth in Micro-mining
By Gregory Gethard

PMI Gold Corporation (TSX.V: PMV) is betting that micro-mining, the practice of operating smaller, high margin gold mines, will help it grow over time into a significant producer.

Case in point: the firm’s activity on Kubi, a property located in Ghana’s Golden Triangle. PMI Gold CEO and President Douglas MacQuarrie believes Kubi could yield significant amounts of gold without using an enormous amount of resources to do so.

PMI Gold finalized its purchase of the Kubi site from Nevsun Resources (TSX: NSU) in October. PMI Gold, in conjunction with engineering firm Golder Associates, is currently conducting initial studies into Kubi. Analysts covering the company project Kubi to start producing gold in 2009.

MacQuarrie says that Kubi, “subject to final engineering studies should be a low-tonnage, high-grade underground operation” and estimates the site could yield ore grading 12 to 15 g/t Au at 500 tons per day. MacQuarrie said that typical large scale open cut mining operations produce 1.5 g/t Au ore at 5000 tons per day.

“They both produce the same amount of gold,” MacQuarrie said.

The principal benefit of this type of mining operation is seen in increased margins. And smaller operations have more flexibility as the price of gold continuously changes.

Larger operations also have a lot more to worry about from major cost increases in items like fuel, steel and transportation costs, because they use proportionally so much more of them. In addition, financing a smaller mining operation is simply easier, according to MacQuarrie.

While Ghana is both a well-developed country and a safe investment bet for West Africa – a nation with a stable, democratic government and an English-speaking populace – PMI Gold must remain sensitive to potential political situations arising from its operations. As a proactive measure, the company has two well-connected Ghanaians on its management team.

PMI Gold also owns other sites in Ghana, controlling 698-square kilometers of land.

“Underground mining means lower environmental impact. Reclamation costs are smaller,” MacQuarrie said. “Plus, the political costs will be small because there are no villages to move.”

MacQuarrie also said more jobs could be developed in areas where micro-mining exists. He said that a large pit operation typically has a life span of seven to ten years. Once the pit reaches the design limit, production stops, and there are no more jobs associated with the site. Small-scale underground mining operations take longer to mine, providing jobs for a longer stretch of time.

“At 500 tpd, Kubi could produce for at least ten years, and odds are good that once we go underground we will find more gold, possibly enough to extend our operations for another ten or twenty years,” MacQuarrie said.

The big AngloGold Ashanti underground mine at Obuasi – just a 20 minute drive north of Kubi – has been in continuous operation for 110 years and is now mining from depths of 2 km, but originally started out as a small high grade operation – like Kubi.

Experts on micro-mining say that the concept hasn’t taken hold yet due to the traditional economics of the industry. Most firms use big pit mining techniques because they are the only way to mine low grade material; others do so to make their assets more lucrative to bigger companies which, one day, may want to make a purchase.

PMI Gold differs from its competitors in other ways as well: MacQuarrie said that his firm plans to issue annual dividends to its investors once any debt incurred for production, was paid back.

“The standard North American junior only talks about ‘growth.’ They want to keep all the earnings for additional acquisitions so that the share price will go up as high as possible. And then all the insiders can exercise their options and sell,” MacQuarrie said. “This logic is flawed, in my opinion, because once the share price stalls for reasons beyond the company’s control, and without paying a strong dividend, then the investor just sells, which attracts more selling. Instead, why not pay your long term shareholders for their continued support?”

The company’s stock trades on both the TSX Venture Exchange and the Frankfurt Stock Exchange, and ranged from $0.21 to $0.47 per share over the past 52 weeks on the Venture. The biggest shareholder in PMI Gold is Nevsun Resources, which was granted over 11 percent of PMI Gold’s common stock in exchange for the rights to the Kubi site.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

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