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Gold/Mining/Energy : Waseco Resources Inc.

WSCO 2.209

+19.4%

Jan 7 4:00 PM EST

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To: CIMA who wrote (7)	10/27/1997 1:32:00 PM
From: DRT	of 60

Rick Williams, Blackwell, is a director of WASECO. In response to your previous note, things should turn around once the 8th generation cows are issued and interest in Indonesia follows. The markets are taking a beating, gold prices are at historically low levels, etc. The feasibility study assumed a new dredge and its still a low-cost producer. Financing (bank) will be the next hurdle/hopefully they will tack on $500,000 for a drill program at Tikkakur(huge potential/'company-maker') - but some majors are interested. If gold prices remain low or go lower, the majors may become increasingly more interested in these low cost potential producers. Diadem's weakness also impacts on WSCO - same shareholders. Any further info, please let me know! DRT

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