to allI talked to chesbar today and they have decided to put off the 8 drill hole assays untill first two weeks of Jan.This was a decision made by Barrick and Chesbar.It is better as the assays would probably fall on deaf ears during Christmas.
Also I have included the following from an individual that attended the Montreal dog and pony show.
Stubbs
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To all..... we were at a special meeting today with Mr. Flanagan here in Montreal. The
meeting was intended for investors, brokers and fund managers that might be interested
in investing in Chesbar. He informed everyone as to what has been happening on our
property, vis-a-vis drilling and their relationship with the Venezuelan people. The
following are a few important notes that I took
1- the permits we received are only the second such hard-rock permits to be issued.
The other one went to Placer on their Km 88 property.
2- the company has done everything according to the book, as far as the government
goes, and as a result, the drilling has begun. The company has been applauded by all
the Venezuelan concerns in its efforts, and as a result has the backing of a large
majority of government people, and ordinary citizens that want the area developed.
3- Mr. Theodore Petkoff is onside in the the development of the Imataca. This was
recently hilighted in a statement he made at the gold conference.
4- The holes drilled so far seem to indicate that the geological structure is the same as
that which occured in the previous 4 holes. Assaying will be complete by the 2nd week
of January.
5- Barrick has agreed to a 6 month extension in their financing schedule. At this point,
the financing is in great shape, as we are still using the initial 2Million from Barrick, and
have another 3Million in the bank of our own resources should it be necessary.
6- Barrick has indicated that they are looking for a significant (ie +5million oz)
discovery. Mr. Flanagan has not committed himself, but it doesn;'t take a genius to
understand that he believes we may be looking at the largest gold strike in South
America.
7- The dd has been done and the cores have been split, and exceptional holes will be
sent to other labs to verify. All the assaying will be done by labs here in Canada. The
company has been very cautious to make sure all is verified.
8- We are looking at a possible 20 holes assayed by the first press release in January.
9- This is low cost mining, as the reserves start at the top - all the infrastuctures, roads,
water, electricity are already in place. LOW COST IS THE NAME OF THE GOLD
GAME (at this time!)