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Gold/Mining/Energy : Starpoint Gold

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To: Bohdan who wrote (1359)	5/2/1997 12:13:00 PM
From: Bohdan	of 2378

Just talked to Chad this morning. He's on his way to Chicago for the weekend so doesn't have a chance to post. He will post sometime on Monday. I will post a condensed version of what he told me, and will defer to Chad for the nuances. - There were about 25 people at the AGM including Del Knowlton from Excel. - Harry is in Uganda - Rick and Mark were leaving for Uganda after the meeting. Will be back around the 10th. Uganda is a fallback position. Yetwene is still #1 - Cecil is now a director and is looking to secure financing - Gexpo will be talking to SML to get an extension, hopefully till the end of August. We should know before the 12th. - lots of dicsussion on, an input from Del, on securing minimum amount of financing to get the properties into production; 500 tpd rather than the 1500tpd like they wanted. - Riverstone is still ours but will get clarification -SML was the party that gave them the ultimatum to get the property into production, not Gexpo. - Select is still a possibility. STS would move to the MSE if Select is still interested. The VSE's problems with Select would/should not be a problem on the MSE. A need for financing expertise and diamond market/production expertise is lacking on the board and acknowledged. They can fill 1 more directors seat without it having to go to a vote. The bottom line is that until the future of Yetwene is known, not much will happen other than some property deals in Uganda. If the extension is given on the Yetwene property (end of August), I think there is a very good chance that financing will come through. A jv on Yetwene would be the best outcome for shareholders, IMO. That's it for now. That's about it. P.S. Mike, if I'm off base on any of this, please correct me. It's easy to hear what you want to hear rather than what was actually said.

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