Armada Gold 10 Million oz of Gold & 1 billion lb of Cu ! Message Board

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Gold/Mining/Energy : Armada Gold 10 Million oz of Gold & 1 billion lb of Cu !

AAU 0.380

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Sep 29 5:00 PM EST

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To: stockman who wrote (155)	3/26/1997 12:45:00 PM
From: Ross Orr	of 552

1) Yes, should be out by mid April 2) Probably the same way that the pilot plant was built and that would be thru a production loan from Merubeni Japan. 3) A combination of equity (but not at these depressed levels) and World Bank or EBRD loans backed by gold production 4) Assuming that the feasibiltiy is positive (and I have no reason to think otherwise) the company would immediately start to arrange debt financing with above mentioned groups. Construction could begin in 6 months with a 30 month construction period. 5) No. There are still many areas of the valley to be explored and it is the company's intention to do so. First things first. 6) I think very soon. You are correct in that the feasibility will answer a lot of questions. I think the major mining houses will be very interested in seeing what the report has to say. Incidentally, a shareholder called yesterday and said that there was a very positive 2 page recommendation from Patrick McKeough who is a contributing editor to The Money Letter (which I believe is Hume Publishing-Toronto). Ross Orr

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