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Gold/Mining/Energy : ybm magnex

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To: Jean Michel Humeau who wrote (4)	4/6/1997 6:01:00 PM
From: Richard Lam	of 16

Dear Jean: Your skepticism is quite welcomed. To answer your question re. Pratecs, what happended was that Pratecs was a "shell company" which bought YBM and renamed itself YBM Magnex such that YBM would be listed on an exchange. I'm not familiar with how listings work in France but it is often cheaper for a company to list via a reverse takeover such as YBM did via Pratecs; this method has its negatives as well. I'd love to hear whta you've compiled on the European magnet market. I'm ashamed to say I've not been able to compile a large amount of information on the European magnet market even though a large % of YBM's sales are derived fromt hat region. Information on the Asian and U.S. market is more readily available but still sparse because most magnet producers are: 1) private firms or 2) subsidiaries of large conglomerates such as Siemens or Sumitomo. One of the underwriters of YBM, First Marathon Securities, has an office in Paris. It has written reports on YBM and I'm sure that it'll supply them to you considering you're a member of the financial press. Its address is: 2, rue Chauveau-Lagarde, 75008 Paris, France telephone 142 66 66 77 telelx france #282381 telecopier 1 42 66 96 78

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