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Gold/Mining/Energy : Coleville Resources - CLL

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To: Gerry Belanger Jr. who wrote (1596)	5/10/1997 10:51:00 AM
From: John Alan Snape	of 3058

Gerry, Great posts! I have been getting all kinds of calls/E-mail saying to pass on a thanks from our group. It is appreciated by all. A further note on the financials, I originally pulled CLL's financials last June and found them in order and showing -1,000,000 in the hole. Which is very normal for the circumstances, ie; being a Junior. I started investing back then on a long position knowing full well that it would be at least a year before we would get the full size of the field in number of ounces and was willing to take that risk. It has been my experience that I sleep better if I buy these juniors on a long position and then give management the opportunity to complete the work on that particular project. In this case I feel very comfortable with the fact that they not only have a very promising gold property in Indo. but a very large, producing diamond mine in Ven. This will provide much needed cash flow in the future. Indo will come. Our group is giving the company until Sept. long weekend to finalize both properties. At that time we will either profit take or redefine a new date. None of us are at all excited or anxious by the delays. We also support management & the promoters & the IR - 100%. I personally know it is not easy running a Junior or any small company with very demanding shareholders nipping at your heels. Shareholders do have rights and I for one have felt that those rights have not been violated. We are looking forward to very positive results and updates as they happen. Thanks Gerry, from our group. All the best John S. P.S. For some reason it has been reported that some of us including myself have been selling shares. Actually to the contrary. We have been buying. Please keep in mind these comments are all IMHO. I am not trying to get people to buy, sell or hold. It is their decision in the end.

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