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Gold/Mining/Energy : JAVA GOLD

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To: Bobby Yellin who started this subject	9/2/2000 9:44:21 PM
From: robingrayson	Read Replies (1) of 121

COCEALMENT OF REORGANISATION IN '97 ANNUAL INFO FORM An Annual Information Form is intended to provide concrete information for regulators and investors. Prepared 30th June 1998, the Annual Information Form for 1997 includes a very useful Organisational Chart to show lines of ownership of the subsidiary companies. It shows for instance that Mongolian Goldfields Corporation (100% subsid) held 100% interests in two Zaamar Licenses, one via Gazar Toson Ltd and the other via Golden Tiger Corporation of BVI (100% subsidiary). The JVAG Report reveals that this Organisational Chart is seriously MISLEADING, and states: "All the Mongolian mining assets of Java GOld Corporation and its daughter companies were transferred to Zaamar Goldfields Ltd.(BVI) as from 1st January 1997." This was purely an internal transfer - and made good adminstrative and strategic sense - but JVAG shareholders should have been informed. And the 1997 Annual Information Form concealed that the reorgansation had taken place, and falsely claimed that the original position continued. At the time of the transfer (1st January 1997), Zaamar Goldfields Ltd. (BVI) had two directors - Armand Beaudoin (General Director) and William Burton, and at the time William Burton was President and Director of JVAG (Armand did not become a director or officer of JVAG at a later date). Thus William Burton as JVAG President was ideally placed to notify regulators and shareholders that the transfer had taken place. No such notification, neither then nor at any time later, took place. On 9th June 1998, Zaamar Goldfields Ltd (Mongolia) became fully active as the local operational subsidiary of Zaamar Goldfields Ltd (BVI) with a suite of new directors - including Mr. Batbaatar of TAS Corporation. Again important facts were misheld from shareholders and regulators. Anyone who made an investment decision about JVAG after 1st January 1997 may have a claim and should seek approapriate professional advice. Robin Grayson author of The JVAG Report General Director of Eco-Minex International Co Ltd

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