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Gold/Mining/Energy : ATLANTA GOLD CORP. (TSE:AAG)

TWG 3.325

-5.7%

Dec 31 3:59 PM EST

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To: Gary Jacob who wrote (458)	4/1/1997 11:22:00 AM
From: Ronald P. Margraf Sr.	of 495

Morning Gary, Well you got that right. This BRE-X thing reminds me of a movie that I once saw. In fact when I got back and saw what was going on and then started to catch up on all the news, that is when it hit me. I remember seeing a movie, in fact two movies with different endings. The first movie was where they where conning the investors. You know. Burn the records that where in the trailer and loose the drill results. The geologist's concience was beginning to bother him so the big boys had him eliminated making it appear as though it was an accident. In this case a suicide. (The autopsy will determine that if he had an illness). The secound movie was where an unskuppulouse company tried to come in and take it away from the rightful owers. In this case, BRE-X management. Ruion shareholder base and then look like the white knight that was going to save the company from ruion at a fraction of the actual cost. Remember, this game is all about greed no matter how admirable anyone might seem. Where talking about alot of money here and power. I'm still trying to assess all what has happend so I can't make any predictions but I would say that it will all work out. The only thing that changes here is my own personal target date,(JUNE). No matter how it turns out I beleive that there has been some real serious damage here to all junior mining stocks and folks will remember this play for a long time. I think the true speculator will not be scared off. He will just play a shorter hand. The real ones that will be scared off are the lazy and the timid. But then they shouldn't be in this game in the first place. There will just be folks doing a little more du-dilly. As far as my understanding is that the geo. that we have helped in a small way to find the gold in Busang and our folks know that BRE-X has it. Maybe not 70 mil. oz., but they have it. The proverbial question is how much. I think that is what will be assessed. As far as we are concerned I beleive that we have the folks at the top and they are covering all their based, crossing the "Ts" and dotting the "Is". I look forward as making this a core holding at this time. May the stock godds smile on us all, Ron

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