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Gold/Mining/Energy : Barramundi Gold

BAM 54.37

+0.6%

Nov 3 3:59 PM EST

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To: johnhaley who wrote (67)	1/14/2000 10:06:00 PM
From: wtfigo	Read Replies (1) of 99

Dear Barramundi Directors, I just read John Haley's response to Zebity and I have a couple of questions. Why do we now need the extra revenue so badly, so as to drop the value of those warrants to the arms length shareholder/s? It appears a little like we are printing money. What about the money toward administration etc. that the Newmont deal was supposed to be providing us with. I thought perhaps the main point of the Newmont deal, which gives them the lion's share of future earnings on our Longline property, was to ensure BAM financially for quite some time. We've been able to survive a long time on less than what we have in the BAM coffers now, surely. Are we really still so badly off as to have to continue to devalue our warrants? The question begs: How much worse off could we have been if we'd gone with Burban's direction instead of your own? Since that split (the signing with Newmont) it appears that BAM has gone from bad to worse. Where is the security that Newmont was supposed to buy us? What have we in exchange for the turmoil that your decision to sign has caused our company? What is our company currently planning to do, so as to increase its value in solid, strategic, sustainable ways? How beholden are we to other companies for our exploration strategies/future? Where can the current management take us if Newmont doesn't work out for us? Is the case with Burban nearing a decision? And is it looking bad for our company? In the case of a loss to Burban, how would we pay him? With what money? Are we in the process of raising money for that contingency? Peter Converse shareholder

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