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Gold/Mining/Energy : Trillion ResourcesTLQ

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To: wayne cath who wrote (4)	12/3/1997 4:45:00 PM
From: Brian MacDonald	Read Replies (1) of 67

Today is the AGM in Montreal at 4:30 EDT. I guess someone decided to make their point today and either dumped their stock or shorted the heck out of TLQ. It was costing them more to mine an ounce than they can get for it but management is saying that they have a plan to remedy that and get their costs down below $US 270/oz. The latest drilling results from Indara mine are encouraging and the grades and widths are excellent. The deal with Falconbridge on the Ivory Coast also looks very encouraging. There are 292 M. tonnes of lateritic ore grading something like 1.47% Ni. It also has cobalt credits. Falconbridge is to make their intentions known by February/98 and have spent/or will spend at least $25 Million before they make up their minds (I believe I have this right). Since TLQ has a carried 15% interest to a bankable feasibility study, TLQ should be undervalued on that basis alone. They've made their first payment for the Indara mine and still have more than $5 M. in cash. I suspect that they have some better news at the AGM in Montreal than the market was giving today. Anyone attend it? If so, could you give a report on what transpired? Thanks. Brian

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