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Gold/Mining/Energy : ATLANTA GOLD CORP. (TSE:AAG)
TWG 3.645-3.3%Feb 4 3:59 PM EST
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To: Ronald P. Margraf Sr. who wrote (234)2/17/1997 6:15:00 PM
From: Ronald P. Margraf Sr.   of 495
 
Hello Boys & Girls, Ladies & Gentlemen & all in between, "UPDATE"

I just got off the phone with the folks @ AAG. Some encouraging words.
It won't set the forest on fire or melt the ore but it does put us a
little closer to what we can expect. So let me get to the meat of the
conversation. Here is a summary of what transpired:

1) You all know what the share structure is but for those that don't
know this is the way it is shaping up. 1 for 1 AAG, 1 1/2 for 1 VSY.

2) The price of the new shares for TWIN GOLD will be whatever the last
trading day of AAG is at the time of TWIN GOLDS opening. So if AAG is
trading at .65 then that will be the new price for Twin Gold. I expect
that by the time the merger goes down AAG will be trading around 1.00.
I base that on what the result of the samples will be. I can not for
the likes of me see them coming out as a dissappointment. I think that
they will change the fundamentals of our position emensly.

3) You already know that the samples that they have taken will be out in
approximately 2 weeks. They appear to be very encouraging. They have
taken 43 stream, 43 sediment and 20 rock samples. They asked for a
extension on the sampling so they could get them all back at the same
time. So we should see them in about two weeks.

4) THE MERGER; The way it looks at this time the voting will be 25 Mar.
and Twin Gold should be trading 08 Apr. if everything goes o.k.. They
will be looking for a listing on the TSE and will probably keep their
listing on the Berlin exchange.

5) WORKING CAPITAL: They will have approx. 1.5mil., enough to do the
work that they have planned for this phase of work.

6) SHARES: There will be approx. 42 mil. in Twin Gold. At this time there
will not be a roll back.

7) MAILING: Thru. will be the mailing for the extra ordinary meeting.
It is 146 pages. Lots for you to read while your on the john or
before you go to bed. It will have everything you've wanted to know
but didn't know what to ask. The only thing that is not in there is
the working capital which I just gave you.

8) They will be doing a update once a month to let everyone know what is
going on on the sites. I suggested to them to try and give a little
more detail if possible. They said that they will be getting in touch
with me Thur. or Fri. for some input so if you have anything that you
would like to have put in the progress reports let me know and I will
suggest it to them.

Well folks thats about it. Hope this feeds your hunger.

May the stock gods smile on us,

Ron
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