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Gold/Mining/Energy : Rock Resources
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To: CIMA who wrote (1309)10/6/1999 2:51:00 PM
From: ogi  Read Replies (2) of 1996
 
CIMA et al: I did just speak to IR at RKR. I am not quoting but here is the gist of what I was told.

A statement of claim was filed on Sept 28 99, this represents an acknowledgement on Rock's part that talks may not bear fruit. I.R believes that talks have been ongoing but it was necessary for Rock to be well positioned should they not produce a settlement. IR could not comment on why this would not be worthy of a news release. Arbitration has not been pursued as that route requires a waiving of court action, leaving RKR stuck if the arbitration settlement were unacceptable.

I am told there will be a drill program sometime this fall, with or without a JV. I.R was unable to say if the current treasury provides for this program or if there will be further financing needed. Nor could IR give a summary of the number of shares issued this past year in other financings. That's the best update I can provide.

Best wishes Ogi
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