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Gold/Mining/Energy : Redbird (RBD.A on the ASE)

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To: Winzer who wrote (51)	5/31/1997 10:09:00 AM
From: John G. Robertson	of 130

Redbird update: The management of Redbird and the Alberta Securities Commission (ASC) had a meeting last week. Supposedly Redbird was able to answer ALL of the ASC's concerns during that meeting. ASC was VERY concerned about the Albania deal and needed proof 'beyond a shadow of a doubt' that this deal was legitimate (NOT a reverse takeover). The ASC is very worried about a lot of financial deals these days (especially after Cartaway, Timbuktu & Bre-x affairs). They had trouble believing such a small company could grab such a huge piece of land in Albania. What they weren't aware of was how well financed Redbird is and that the contract with the Albania companies was ALL above board AND agreed to by both groups. My source (I have his name & number at work - I'll provide it in a posting next week...sorry about that) claims we may see news as early as this week, but most likely next week concerning the re-listing of Redbird. I know we've heard similar 'hopes of re-listing' in the past, but this time there seems to be a stronger possibility because of 'face to face' meetings occuring between management & the ASC. Hope my source is right! Cross your fingers ! P.S. The King Bay drilling program went extremely well (so says my source) so this may give a boost when they are able to publicize the information when Redbird is re-listed. Also they will NOT release any drilling results until at least a week after Redbird has been trading. The management feels it is only fair to make sure that all shareholders of Redbird have been given ample warning that it has started trading again before releasing results. They feel this will give shareholders a chance to act on the news accordingly.

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