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 Mon Apr 17, 2000
Excerpt from Bottom-Fish Action week of April 3-14, 2000
    Publisher: Kaiser Research Online
    Author: Copyright 2000 John A Kaiser

 Excerpt from Bottom-Fish Action week of April 3-14, 2000

Altoro Gold Corp (ATG-V: $0.44)
TP RS BF Buy ($0.30-$0.39)

Altoro Gold Corp (ATG-V) has been notified by the Hunter-Dickinson group's Rockwell Ventures Inc (RCW-V: $0.55) that it has completed its due diligence on the Pedra Branca PGM project in Brazil and will be finalizing its option to acquire a 60% stake. Rockwell now has $1.6 million in working capital after members of the Hunter-Dickinson group converted a $910,000 debenture into 5,275,362 shares and exercised the 3,165,217 attached warrants at $0.172. The owners of 1,317,000 warrants at $0.60 from a 1998 private placement have also exercised their warrants. Bottom-fishers should realize that no member of the Hunter-Dickinson group is an insider of Rockwell, which continues to be managed by Rene Carrier's group. Rockwell has 36.1 million shares fully diluted, most of which is stashed away in friendly hands below the insider definition threshold. Altoro is operating the Pedra Branca program until Rockwell has established a legal presence in Brazil. Rockwell must spend a minimum US $1 million during the first year of the option. Altoro hasn't had much to say about its exploration efforts since the end of February when it reported results from the auger program on the Rincon del Tigre PGM project in Bolivia. The stock drifted down while the market awaited Rockwell's decision on Pedra Branca, and perked up a bit once Rockwell decided to proceed. Near term upside for Altoro will depend on the sort of noise Rockwell makes about Pedra Branca. Rockwell itself has been very quiet. There is still no word on any new potential acquisitions by Altoro, which needs something to focus the market's attention. Ironically, the market has gravitated to Ontario's PGM potential, which Ross Beaty has dismissed on the basis of his exploration efforts during the eighties. Harry Barr's Pacific NorthWest Capital Corp (PFN-V: $3.00) gapped from the $2 level after a two day trading halt to over $3 on March 30 when it announced results from its PGM project in the Sudbury area of Ontario. PFN's River Valley project 60 km east of Sudbury turned heads last year when Anglo American Platinum Corp (Amplats) optioned up to 65%. The latest results suggest that the contact between the River Valley intrusive and the country rock may host a bulk tonnage PGM resource. Pacific Northwest's stock price is ahead of itself and will probably collapse below $2 next week, but that will not put a damper on the area play that is starting to develop in Ontario. The results so far are promising, but they do not guarantee a slam dunk. Perhaps they will prove to be like those first Diamond Fields into the nickel-copper dyke at Voisey's Bay. Diamond Fields did not turn into a slam dunk until the Ovoid holes were pulled several months later. *JK owns shares of Altoro.
 
 

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