Goldminco Consolidated Mining Corp. GMC (was GMO) Message Board

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Gold/Mining/Energy : Goldminco Consolidated Mining Corp. GMC (was GMO)

GMO 0.0121

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Jan 21 4:00 PM EST

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To: Michael Brody who wrote (441)	5/23/1997 2:22:00 PM
From: Rajiv Arya	of 588

Michael, I do not know when the first trenching results will become available for North Posie or Alaska. I believe the company decided to drill Posie first as that property has been sampled and pitted/trenched to a greater extent than the two later discovered anomolies. If I recall correctly, I think Mr. Tambanis said something to the effect that a second drill will be brought onto the site sometime in early-mid June to begin drilling at one of the more northerly anomalies (implying that the company may expect some trenching from N.Posie or Alaska by then). Unforutnately, I am not absolutely sure of this last statement -- the line was very bad and I found it a little hard to make out quite what Mr. Tambanis was saying at times. I did ask Mr. Tambanis about the insider selling by directors of Goldminco as indicated by reports filed with the B.C. Securities Commission. He was very straighforward and to the point on the issue, stating emphatically that he did not sell any shares from his own personal holdings -- rather his personal holdings have increased to about 800,000 shares. The selling that has been taking place, putatively under his name, has been done by some 'company', or 'members' thereof, with which he is associated. Mr. Tambanis has a 20% interest in this 'entity' -- which he described at various times as a corporation, partnership, or business. Apparently, other members of this 'entity' (which seems more akin to a partnership than anything else) are free to sell their shares at any time independently of other members, and have been doing so. The selling was filed with the B.C.S.C. under Mr. Tambanis' name in order to avoid any possible future charges of improper disclosure given his 20% holding. Rajiv

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