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Gold/Mining/Energy : Coleville Resources - CLL

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To: John Alan Snape who wrote (1638)	5/16/1997 1:24:00 PM
From: Gerry Belanger Jr.	of 3058

Colveville Cash Position and Obligations In a conversation with CLL Mr. Perry, I discussed present CLL financial situation. Response : Current CLL cash or convertable securities position will not be made public over this forum. "Naysayers have doubted CLL's ability to raise funds in the past and we always have". "I have no doubt that Coleville will meet their obligations in Sumatra" Obligations for Sumatra are about CDN$650,000 for 1997. Not that much money for a project of this size and potential. CLL received US$1,500,000 and 1,000,000 shares of ANZ as a part of the JV agreement with ANZ. CLL currently holds a 45% percent interest in the Ojolali and a 90% interest in the surrounding 29,760 hectares. ANZ can earn into the additonal 29,700 hectares up to 45% by paying CLL CDN$250,000 and issuing an additional $1,000,000 of ANZ shares to CLL. We will have to leave it at that for now. Management COULD not elaborate any further at this time. Audited financials will be made available to anyone interested. Gerry Belanger Silicon Capital

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