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Gold/Mining/Energy : Eaglecrest Explorations
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To: Scott Reynolds who wrote ()11/17/1996 3:26:00 PM
From: mike paventi   of 639
 
Hi everyone,

Results are expected soon, but don't expect them right away. They appear to have the same problem with assaying the core (ie. "Nugget effect") as the previous reported holes.

I.R. is hinting at big news and better days for investors before mid- December.

I've had a chance to review the Phase III report, and I must say in my professional opinion (Mining Engineer) that this area shows a quite a bit of potential. There are only three problems I have:

1- is that there is still quite a bit of work to be done,

2- I feel management (and geologist) might be a little green when it comes to knowing how to explore deposits like the ones they have. It seem they have been wasting investors money using the wrong tools for the job (ie. the type of drill and assay technique), and not getting the right results. Don't get me wrong, the goods are there, but the area is best explored by an experienced partner, like "Golden Star Resources" (hint!, hint!) who know how to explore similar deposits.

Management feels that it is doing the right thing for the investor by not joint venturing with a bigger partner - and I agree fully, if they can get their act together and make better decisions.

I personnally think with an experienced partner at the helm the shareholders will be better off.

3- When they have proven the deposit to be viable, how will they resolve the problem of illegal miners.

Eaglecrest will be doing the "dog and pony" show in the weeks to come and investors should see better prices in the near future.

I'd like to hear from other investors on this matter.

Quinto.
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