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Gold/Mining/Energy : Fort Knox Gold

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To: Murray who wrote (7)	5/13/1997 2:46:00 PM
From: lamont smith	of 50

Murray, spoke with Donald Humby, secretary treasurer at FNX. (416) 869-0358. He tells me that Rob Cutney President is handling investor relations. Confirms that drilling is underway by Inco, first results expected in 2-3 weeks. All expectations are very positive. Shares outstanding are 7.5 million post special warrants. This puts the market cap @ $1.60 at a measly $12 million. THEY HAVE $6 MILLION in the bank or 0.80/share ! This company is a steal at this price with Klu, Nikolai drill programs, and high potential at Fawcett which they will be drilling all summer. Looking to double my position at these levels.

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