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 Wed Nov 18, 1998
Report Sept-Oct 1998: Intl Canalaska Res Ltd - 1998 Annual Review
    Publisher: Kaiser Research Online
    Author: Copyright 1998 John A Kaiser

 Report Sept-Oct 1998: Intl Canalaska Resources Ltd - 1998 Annual Review

Intl Canalaska Resources Ltd (ICA-V)

Outlook: Avoid

www.info-mine.com/canalaska
Tel: (800) 667-1870

Issued: 19,929,739
Diluted: 25,491,639

Adj Working Capital: $1,600,000
Overhead Burn: $32,090/mth
Cash Breakup: $0.08/sh

Insider Stake: 11%

TROCL Risk: 2+2+2+1+0 = 7

98 Bottom-Fish Range: $0.30-$0.49
Hi: $0.50 Lo: $0.09 Last: $0.22

Although Harry Barr still owns 2.2 million shares, he is going for a 3:1 rollback to prepare for the next cycle. Earlier in the year he had tried to do a merger with Holmer that also involved a rollback, but that deal fell apart. With Freegold's future in the hands of Barrick, Barr's current priority is Pacific Northwest and its platinum play in Ontario. Canalaska's only active play is the Timmins project optioned from Royal Oak. ICA's market these days fluctuates with speculation about Cross Lake's neighbouring VMS play. Canalaska is doing a small drill program which may generate buying into which bottom-fishers should sell. When the rollback is done and insiders have reloaded Canalaska deserves a fresh look.
 
 

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