JAVA GOLD Message Board - Msg: 13951377

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Gold/Mining/Energy : JAVA GOLD

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To: Bobby Yellin who wrote ()	6/27/2000 10:00:00 AM
From: robingrayson	Read Replies (1) of 121

COURT DECISION The gremlins are in the ether - I shall type it again, so if it appears twice that's why! Latest news from Mongolia is that the maverick Board of Zaamar Goldfields Co Ltd (100% subsid of Java Gold Corporation)LOST their claim against Monpolimet Co Ltd regarding the contract for the Tulson Terrace gold placers at Zaamar. It was foolish to think they could win as Monpolimet has a very strong defence including: a) a challenge to the validity of the General Director of Zaamar Goldfields Co Ltd - Harry Vassar of USA - who had replaced by a mechanism unknown the former CEO Armand Beaudoin. b) complete neglect by Zaamar GOldfields in assisting in technology search or fund raising for the majot Zaamar dredge project. Weight was added by the faxes from Java shareholders voicing their concern about the lack of accounting or reporting from Zaamar Goldfields Co Ltd and questioning whose authority that the new CEO was appointed. Now the maverick board have hit a brick wall and lost their entire cash flow and should resign. The next stage is to get the Java Board to take a Board decision URGENTLY - to replace the Zaamar Board with directors forthwith who are interested in shareholder value, reporting and capable of delivering on the big dredge project - as well as being able to negotiate peacefully with Monpolimet. Today was a victory for Java shareholders on the first step to regaining control of the company. Still a lot more to be done - mainly at the Canada end. I return to Mongolia next week and will get a fuller picture and report back. Meanwhile anyone who wants to email me can do so on: Robin@piusme.nursat.kz Robin Grayson

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