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Gold/Mining/Energy : Macdonald Mines

MMP 69.00

0.0%

Sep 25 5:00 PM EST

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To: Rob who wrote (84)	4/19/1997 6:46:00 PM
From: Jim Woodman	of 135

Hi Rob! I know you took a creaming on this one and so did I. I am keeping about 1/3 of my original position, although I've been flipping 1/2 of that, buying in the 30's and selling in the 40's. It's probably not rational to hold right now but we don't always act rationally do we? Otherwise you wouldn't see runups like Cartaway last year on speculation. I honestly wouldn't recommend MMP.A to anyone again but I am monitoring for what it's worth and note the strange trading patterns lately. Tom Smeenk at Investor Relations tells me that Wood Gundy is still interested in doing a financing but it is going to be structured differently with more properties and I believe he even said more companies involved. Some kind of much bigger deal. Well, things they have said have not come to pass before so CAVEAT EMPTOR. I don't blame you for bailing completely. Hope you make up your losses elsewhere. All the best, Rob. Perhaps someone else following this company has some insight into its financing prospects or wants to follow up with IR to see what kind of story they get. Jim

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