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Gold/Mining/Energy : Millstream Mines (MLSM)
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To: Dirtpoor who wrote (274)9/28/1999 1:29:00 AM
From: Brumell  Read Replies (2) of 664
 
The problem Dirtpoor is that we are shareholders of MLSM, not HDG. HDG is a private company who entered into a business arrangement with MLSM to explore and drill the Potter property. To accomplish this, the Potter property was put into a limited partnership with HDG. However, as MLSM shareholders, it's up to MLSM to release news applicable to their shareholders, not HDG.

The problem for us is MLSM's silence. They've told some that a contract was not formally signed with HDG yet they apparently got funds from HDG in late June. On what terms did they get these funds? Are they trying to welsh on HDG? Was the property transferred to the limited partnership? Many questions and we don't know the answers.

What we do know is the program has not proceeded as planned and stated. We do know that many of us have received misleading statements from various persons at MLSM. It's a far cry from the $19 million dollar program MLSM trumpeted in their earlier NRs. It's a far cry from the $4 million effort planned for phase 1. Everything else we think we know is in reality conjecture. Judging from statements by MLSM people, there is a conflict between them and HDG. Whose right and whose wrong is anyone's guess. I have my own hunch but as an MLSM shareholder, the answer is not a happy one.

The only remaining question is does the program continue or not? Hopefully MLSM will find the time and courage to answer. They've kept us waiting a long time.

Regards,

Bob
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