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Gold/Mining/Energy : Starpoint Gold
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To: Bohdan who wrote (1536)6/7/1997 1:43:00 PM
From: Chad Beemer   of 2378
 
Bohdan,

I thought that Harry renogiatied a new deal that had the Angolans paying half of the expenses and it being a 50-50 partnership with no
royalties attached. This was done earlier this year. I'll be truthful
with everyone in saying this but I would really feel much better about
this company if I knew that there was a diamond expert sitting on the
board.After talking to someone about the past events with STS he tells
me that the dredge idea was essentially a waste of money and it would
have been better to have used that money on the plant equipment. The
dredge could have been bought later after things were up an running.
The next big question that has to answered is can we raise the funds to get Riverstone into production. I hope Cecil can help provide some
direction in that regards but we shouldn't put all the pressure on him
because he has his limitations. I think the best case scenario would be for some party to come in and JV on Riverstone or a bigger player
just simply buy STS outright. In this business who you are and who you
know seem to be major factors in attaining success from being Juniors
to building yourself to say a status of a Bema Gold. At this point in
time all I can say is SHOW ME but until them we'll just have to wait
and see.

Chad Beemer
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