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Gold/Mining/Energy : JABA INC.(c.jba)

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To: Alex who wrote (27)	4/15/1997 5:17:00 PM
From: Golden Gord	of 1044

Alex, First let me state I am NOT a geologist- I've learned some geology thru textbooks and investing in mining stocks. My take on Silver Bell (or finding the other half): be patient, it will take a while. My understanding (at least as of 3 months ago) is that only one target was drilled in this initial round of drilling (of a total of 3 targets). I'm also surprised they didn't put at least one hole deeper than they did. This is a long term play- once they have some other property looking good they'll be back to drill more. Yardley could be more exciting. They think they hit the very outter portion of a porphyry. The drill hole they put down shows this COULD be possible. They punched this hole down quickly based on a work commitment (to keep the property in good standing). The hole location was based on surface sampling. I would expect them to back up and do more basic work like a magnetic survey (according to my info, they never did one due to time constraints) before drilling again. They will definitely be back to Yardley (IMO, even before Silver Bell). Their original plans were to move the drill to their Mexico properties after this round of drilling on Silver Bell and Yardley. This drill hole in Yardley was encouraging, but nothing definative can be drawn from it. I'm holding onto my JBA. Any other thoughts from a geologist would be appreciated.

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