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Gold/Mining/Energy : Starpoint Gold
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To: Frank Sauer who wrote (1004)4/7/1997 9:47:00 PM
From: Chad Beemer   of 2378
 
Frank,

Basically the Angolans want to see that STS has the ability to get the
mining operation in motion, this of course takes money which is a problem obviously and seems to be the one main problem that Rick and Harry have had. One of the directors told Rick and Harry when he was
brought on board that money was no problem and that he had the ability
to help with necessary funding when it was needed. When they needed
help he was never around and quite frankly lied to them. As far as the
near term deadline, Gexpo has told them that they have other parties
that are interested in Yetwene if STS can't come up with the funding
of Yetwene. The original deadline was March 31st. We are past that date now and they hope to find out any day if Gexpo was just bluffing them or if they reallly do have some interested parties. STS
asked for the June extension so they could use what money they could
raise to purchase equipment and start the mining operation.

Regards,
Chad Beemer
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