| | Mon Jan 10, 2000
Excerpt from Bottom-Fish Action Weekly Review
Publisher: Kaiser Research Online
Author: Copyright 2000 John A Kaiser
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| | Excerpt from Bottom-Fish Action Weekly Review
Copyright 2000 John Kaiser
January 10, 2000
Week of January 3-7, 2000
Altoro Gold Corp (ATG-V: $0.35)
Top 20 RS BF Buy ($0.30-$0.49) for 2000
Altoro Gold Corp (ATG-V) has completed its 18 hole drill program on the Pedra Branca platinum-palladium project in Brazil. It plans to release the first five holes in the second week of January and release the rest in batches as they become available. This type of exploration play is not about a quest for a discovery hole in a hot zone. It is about proving that the mineralized system has the thickness, continuity and grade consistency needed to be viable as a bulk tonnage mining operation. The market's reaction to assays will focus more on the composite picture that emerges after all the holes have been received than on individual holes which have the potential to look spectacular but not in a meaningful way. In other news Altoro has dropped its option on the Birch Lake project in Minnesota which it had drilled in early 1999 in an effort to expand the flat-lying but deep PGM deposit. The program was only a partial success because the mineralized horizon turned out to have much greater "topographical" variability than expected. Meanwhile, the price for platinum has come under pressure, dropping below $400 on news that the Russian roadblock to exports had been lifted. Palladium, which is more abundant than platinum in the Pedra Branca system, held up better on suspicions that the Russians did not have a big palladium stockpile.
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