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Gold/Mining/Energy : Primo Resources - PRI.VSE

PII 66.15

-4.3%

4:00 PM EST

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To: gian piero ciambella who wrote (556)	4/6/2000 3:31:00 PM
From: Leigh McBain	Read Replies (2) of 579

First item, Sarah Cabianca is Ken's daughter. Second item, it is in no way unusual for someone to take a finder's fee in shares, at least not if they think the share price might go somewhere. Third item, I have been informed that Primo DOES have the financial where-with-all to take part in phase III. Fourth item, have been informed by Chase Management that Primo has indeed made the payment but there is some question as to the process used by the Chase and so the posting to GL's account may have been reversed. It was definitely late and so there are agreement compliance issues to be dealt with regardless. Fifth Item, I spoke with Primo and Georgia indicated to me that by the agreement GL was required to give them 30 days notice on cash calls, however, according to GL that is apparently only for the "Project's Phase Cash Calls" not for required payments of this nature. I have asked if I could get a copy of the JV agreement to review, but have not received confirmation as to whether or not that is an available "public" document. Salut, Leigh McBain

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