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Gold/Mining/Energy : Starpoint Gold

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To: Bohdan who wrote (1060)	4/9/1997 10:58:00 PM
From: Dick Roy	of 2378

Bohdan, Agree fully, and did point this out to Rick. It should be reiterated STS should demand notice of Exchange's decision with all background in writing. Actually my opinion is that STS should file (in fact should have filed anyhow) the application in order to obtain a formal response in writing. Rick said to me yesterday they don't see any point in continuing to jawbone the Exchange. So what do they have to lose? . Even so, in discovery proceedings details of verbal notifications would be smoked out under oath. It is too early now because final notification hasn't been received of any loss of the concession from Angola as far as I am aware. But once (and if) the scenario is played out and the shareholders are the losers, a class action suit may be worth pursuing maybe both in Canada and the U.S. In Canada the class action suit is fairly new but is gaining currency, taking a page from the U.S. experience. I suppose the key would be to have the relevant court accept to hear the case. Opposing lawyers would try to throw it out on the basis that the Exchange was operating well within its rules. Look, I don't know really what the facts are, what the real truth is about why this deal is in jeopardy, but shares are losing their value evidently not to market risk but regulatory body's actions which could not reasonably be factored into any investment evaluation. There should be some redress for such damages. Discovery proceedings should smoke out the truth and if the Globe and Mail, Financial Post or Forbes or Wall St. Journal got hold of the story so much the better.. That's my opinion. Anyway I will try to reach the lawyer I know in VCR to see if there is potentially a case.or not and if there is any interim action STS can take create a paper trail.

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