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Gold/Mining/Energy : Kensington Resources

KRT 25.85

+0.9%

Feb 6 9:30 AM EST

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To: Larry Brubaker who wrote (3945)	3/24/1997 7:11:00 AM
From: Robert Sherkin	of 5597

Larry I have not said too much but with respect to KRT you are off base IMO 1.Do you think that KRT's potential Chinese partners would do the deal if the evaluation was not in the range of the value of the proposed deal. The upside is in the yet to be discovered potential!! 2. Why would KRT after being halted for two months want to promote their "wares" until the deals (PP & China) are signed, sealed, and delivered? 3. KRT is not an operating company so a valuation based on cash flow is really not appropriate at this stage. The fact that we can put some concrete value by a world renowned engineering firm certainly gives a shareholder the necessary info needed to approve (or disapprove) of the deal. I for one will approve it. Being in the forefront of the diamond industry in China sounds good to me! China is a country with over 1 Billion people (and now in charge of Hong Kong) and unbelievably bright prospects for the future. The pacific rim WILL be a mojor financial world power in the 21st century. 4. No mention has been made of the "Rombout" report. I recall that with the report we can know start to put out some potential valuations of FALC and even though they are preliminary they are a VERY GOOD start. $2 Million drilling program will start this summer!! The report obviously encouraged the partners (who know alot more than me) to spend a chunk more $$ on proving up FALC. The report (all 150 pages) must have indicated some very exciting potential!!! If you are looking to trade KRT then you are right it has not performed too well over the past 12 months. IMHO KRT's chairmain Don Nicholson has done a fabulous job to transform KRT into more than just an exploration play in Saskatchewan. They are set to transform KRT into a major player in the Diamond industry. With a market cap of under $30 million B4 China this is a good long term play. And I think it will be even better after the China deal is approved which I think will be at the AGM. If you believe in MGMT (which is really what you are buying into) and you do buy in to KRT then put the paper away for a while.... you should be very pleased in the long run.... Good luck Bob

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