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 Mon Dec 1, 1997
Report Sept-Dec 1997: Intl Canalaska Res Ltd - 1997 Annual Review
    Publisher: Kaiser Research Online
    Author: Copyright 1997 John A Kaiser

 Intl Canalaska Resources Ltd (ICA-V)

Outlook: Buy for annual bottom-fish rebound

Tel: (800) 667-1870

Iss: 16,200,000
Dil: 20,700,000
WC: $1,900,000

Initial Buy Range: $0.50-$0.75
Hi-Lo-Close: $1.34-$0.30-$0.40

1997 was a heartbreaker for Harry Barr and Canalaska as the ambulances they had chased during the past couple years all ended up parking outside the morgue. The biggest heartbreaker was the Eastern Deeps Extension play, into which Falconbridge, Canalaska, and Columbia-Yukon pumped $3.3 million down seven 1,500 metre deep holes. Little interesting geology and no massive sulphide nickel-copper mineralization was intersected, and so it is doubtful Falconbridge will proceed with an option to earn 60%. The VBE-1 claim will probably go back onto the shelf. Intl Taurus did extensive work on the Ipeti copper-gold prospect in Panama with marginal results. Indonesia has turned into a deadend as far as investors are concerned. And just when Intl Freegold, a related company in which Canalaska owns 2.3 million shares, did a deal with Barrick Gold on the Golden Summit project in Alaska, the price of gold tanked. Harry Barr is a Howe Street survivor who keeps his company alive by sprinting into new area plays and spinning off interests to lame-footed juniors. He is keeping his ears perked for new sirens, and assuming Canalaska doesn't get buried in an elephant pie called Congo, it is just a matter of time before Canalaska latches onto a hot new play.
 
 

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