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Gold/Mining/Energy : Delgratia Mining (DELGF)

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To: E. Charters who wrote (341)	5/7/1997 4:06:00 PM
From: John McDonald	of 532

The following is an exerpt from Jay Taylor's current news letter: I have no news from Delgratia to report this week, but I will tell you that I received a call from Ken Gerbino, a fund manager based in California who has done a considerable amount of due diligence work before investing his clients money in this company. Ken pointed out to me that based on the nature of the drill results announced last week, he sees absolutely no way that salting could have taken place. The coarse sedimentary material which contained high gold values and the coarse andesitic material which contained very low gold values, are not discernible to the naked eye. High grades in the sediments and low grades in the andesitic material is the same pattern that has followed in the first six holes. Ken reasons, quite rightly in my view, that if someone were salting these samples, some of the andesitic values would also contain high grades of gold because the person doing the salting could not have been able to select only the sedimentary material in which to salt. Ken noted that he had very little concern about salting at any time, but now he is believes there is 0% chance that it has occurred.

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