DAYAK GOLDFIELDS INC. (DAYK) Message Board

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Gold/Mining/Energy : DAYAK GOLDFIELDS INC. (DAYK)

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To: Janice Casolino who wrote (5)	2/24/1997 9:24:00 PM
From: Ron Everest	of 20

Janice: Hers is my opinion in answer to your questions: DAYAK will move in sync with IPJ for now. It has been valueing a DAYK share at 1/3 of the IPJ price. Essentially you get 1/12 of an IPJ warrant good for purchase within 1 year for free with each DAYK share. The deal being proposed is 3 DAYK for 1 IPJ plus 1/4 warrant with every 1 IPJ. Each full warrant entitles the holder to purchase 1 IPJ share at $5.50 for 1 year. Essentially, the warrant part is a freebee and any premium when you do the division. DAYAK appears to have the best opportunities IMO. You also asked if this was a good time to enter the stock: Your call. The Bre-x problems have influenced the markets generally with regard to Indo. investments. IPJ/DAYK is purported to have the best chances to have the next elephant strike. New valuations will be no more than $50US per oz IMO. IPJ/DAYK are expected to release some spectacular news in two to three weeks. Of interest to me is their continuing statements made when phoned and contained in some previous news or releases that their Jurassic Park (Batu Putih) COW has the potential to contain 100 Busangs and they have already identified many anomolies. JP is a cauldera with a 25 km diameter and appears to be contained on the COW. When the 7th generation COWs are received this could attract big interest. The IPJ Hinoba-an prospect in the Phillipines could be equal to a greater value than is being traded currently. There is a possibility that this will be vended, if so, then one could conclude that you get the Kalimantan properties for free at this time. IPJ/DAYK are therefor undervalued. When the release is made in 2 to 3 weeks DAYK could spike upwards as they have visible gold in drill core number 2. We have asked that the news release detail the assay by values in lengths as is standard practise. If DAYK spikes upwards, then IPJ may have to revalue the merger. The market is waiting for assay results from drilling they are doing on the Sebuluh Fault portion which is on the L-N COW of IPJ. This could be the reason that IPJ is making the offer to DAYK. DAYK holds a 20% carried interest in any IPJ strike on IPJ ground. Is L-N the reason for the merger? we will see. Bottom line IMO: We will need to wait for 7 th generation COWs to be signed before anything spectacular happens to these stocks. The Bre-x fallout is a factor, revaluation at lower rates is the new standard. The news release could offer an opportunity to set a new and higher $ level for IPJ. Hope this answers some of your questions, Best Regards, Ron E

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