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Gold/Mining/Energy : Etruscan Enterprises Ltd
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To: Robert who wrote (89)4/29/1997 5:31:00 PM
From: Mark Bartlett   of 235
 
Robert,

<<Is any news out on Etruscan. It took a hit today. Any opinions as to whether it is a buy. Robert>>

I spoke to them today ..... fundamentals are all fine ... things are looking quite positive. One of the problems with the slow news is that Placer Dome basically controls the drill rigs (supplied by EET) and the data that comes from them. EET gets the data only when Placer is ready to give it to them.

EET has been doing some auger and RC drilling outside the optioned zone but it is their policy (at present) not to release the data UNTIL the results can be supported with fire assays from diamond drill cores. Since Placer has both of their diamond drills, they are at PDG's mercy for the time being. They are attempting to secure another diamond drill over there but thus far no success. Their assays are overseen by a consultant named Barrie Smee - very well respected in the business (and in light of the Bre-X situation that is very positive). It cost EET more for these precautions (instituted by them BEFORE Bre-X problem) but in retrospect worth the extra.

EET _may release the auger and RC results without the diamond drill data ..... has not been decided. They recognize that slow news periods are not positive and want to ensure good shareholder value.

So ... to answer your question - IMO it is a good buying opportunity.

MB


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