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Gold/Mining/Energy : Coleville Resources - CLL

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To: Gerry Belanger Jr. who wrote (1573)	5/8/1997 9:23:00 PM
From: JD	of 3058

Timing of CoW approvals: Hi Gerry. It's my understanding that CoW's require parliamentary approval before they are presented to President Soeharto for signature. I have read in a previous article (I believe on Kompass Online) that the Indonesian Parliament is nearing its summer recess and will not sit again until 11/97. I'm not sure the CoW's will be signed before their pariliament breaks given that the Indonesian gov't is almost sure to want to legislate changes to the 7th Gen. CoW's to fix the 'loopholes' they say they identified as a result of Bre-X (ie. independant audits, gov't reps on site, mandatory 10% to gov't were mentioned as possibilities in various articles ... all still very much speculation at this time) ? Do you have any further information on this? Thanks. JD

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