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Gold/Mining/Energy : Rock Resources
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To: the Chief who wrote (1226)7/31/1999 8:25:00 PM
From: Coz  Read Replies (4) of 1996
 
I spoke with Dwayne Yaritz, IR for RKR Friday. He had a meeting with Tom Kennedy Thursday. He says Kennedy is preparing a statement for release next week. There will some mention of the expropriation payment and how RKR will be handling this in the future. Also, there will be some mention of advancements on the property in terms of their contractual abilities to maneuver on the property. These will actually be quite significant according to Yaritz.

There are now 8 majors who have signed NDA's. Of the most recent 4 of these which have signed, one is extremely aggressive and has already sent a representative to walk the property.

We spoke briefly about the recent PP. Yaritz says Kennedy is aware of shareholders feelings regarding these PPs and he is seeking to keep them at a minimum--only to used them as a means of raising a minimum or operating cash until a settlement with BC Gov or a JV enters the mix.

He says the company is trying to use their time these days to organize for the fall drill program and to coordinate this with the majors so all will go smoothly and quickly then. They are still talking with BC Gov and the potential still exist to settle this out of court. A couple of the majors are extremely aggressive in researching the property. Yaritz said there will likely be a Copper shortage within 5 to 8 years, and the majors are actively searching for new properties now. He said the possibility exist for a JV prior to drilling.

--Coz
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