CVR: V Consolidated Viscount Resources - Ringer??? Message Board

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Gold/Mining/Energy : CVR: V Consolidated Viscount Resources - Ringer???

CVR 9.068

+0.8%

Nov 10 3:57 PM EST

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To: Del Holmes who wrote (233)	5/25/1997 12:04:00 PM
From: R Langford	of 409

Well Del, I disagree with you. I have been involved with CVR and GUD for about two years now and have complete faith that these companies are very well managed and will provide excellent returns to investors. There are several styles of managing a company in order to bring a promising property along. One is to sell shares in order to raise money for drilling and exploration, another is to obtain untested properties cheaply then get the interest of a larger company and JV the property. Len Harris has been able to get at least 6 very promising groups of properties at low cost and at no dilution of the number of shares. None of these properties was drilled last summer. This was very disappointing and the share price has fallen because of this. At the same time there has been no material change in the merits of the properties nor on the underlying share value. A lot is going on behind the scenes with prospective JV partners as well as in the initiation of production on the Mexican property. The latter will provide cash flow to the company for use in drilling etc. The 18 properties now held by CVR in Mexico are of interest to a number of other companies as is the diamond property in Wyoming. You can be sure of one thing though. Len will not enter into any deal that will dilute the underlying value of the company or that causes dilution of the shares. He is very astute in deal making and prefers others to take the risk associated with spending money on untested properties while at the same time holding onto 50% of the property for CVR or GUD in case the drill results prove up something. Always nice to spend someone elses money to prove a property. I too am not happy with the share price except that I have been able to acquire a considerable position in these well run companies at these low prices. BOB

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