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Gold/Mining/Energy : Global Diamond (GDRS)

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To: Joe Boster who wrote (24)	4/16/1997 2:19:00 PM
From: Eugene Brill	of 88

GDRS Update. The Private Placement of 802,931 common shares of Global is in the process of closing. One third of the investment is in the bank. The balance will be collected shortly. This has now put us in the position to start upgrading the recovery plant at the Caerwinning alluvial deposit and the site development at the Grasdrif property. Caerwinning will be in limited production three months after the closing of the financing. The pans will start turning within six months at Grasdrif. Johann de Villiers and Mervyn McCulloch are meeting with the Kensington people in Vancouver this week to further discuss the alliance between the two companies. The emphasis at Global remains on production. We will have a cashflow in the first year of production. Possibly earnings per share. This past weekend we attended The Chicago Natural Resources Conference and Exhibition hosted by Richard Radez at David A. Noyes & Co. (1-800-285-1700) and was very well received. We have made various presentations to the Excel Investment Forum and will be going to World Mining & Industrial Expo in China. We have seen a lot buying coming into our stock at the lower levels and do not expect to hang around here much longer. Please feel free to give me a call at 1-800-424-6533 for any further information. I will post company updates on this site at regular intervals. Eugene Brill.

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