Erin Ventures EV.ASE Message Board

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Gold/Mining/Energy : Erin Ventures EV.ASE

EV 21.85

+0.3%

Apr 17 5:00 PM EST

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To: Bernard Poulin who wrote (491)	2/1/2002 12:54:36 AM
From: AH	Read Replies (1) of 523

From a stockhouse post: Here is what I heard. Looking back thru the posts others were going to attend and maybe they will add something to what I post. And if someone posts while I am typing this out I apologize for the repetition. Meeting chaired by Daniels...formal meeting was brief and as per mail out. I estimated 25 to 30 people in attendance which someone said was significantly more than usual. Daniels let the shareholders pick the direction of the rest of the meeting so in point form here it is: -Power Company pulled from the venture as govt wants out of private type of ventures. -new proposal was submitted to govt (large, still un-named, chemical company brought into picture) -waiting for new mining laws before they can move forward...expected to happen very soon -drill program has to be completed for feasibility study..40-45 more holes. -someone asked if the new mining laws may be too onerous to the company as far as royalities go and Daniels doesn't think so. -Daniels feels the JV leaves then in a good position -as far as news releases...must have material news to convey to issue NR. -Wallace, the engineer, said it would likely be an underground operation as the boron is in thick beds from 3-14 meters. said original estimate of 7.6 million tons likely closer to 10+ million. -JV company will do the funding to get to production but funds likely have to be raised for the BC property and the everyday running of the company -can't release the name of JV and have signed non-disclosure papers in this respect -Daniels said he was 100% sure EV won't end up with 50% of ownership but believes it will be lucrative. -JV wants EV to be in the deal as they are familiar with and know how to do business in Yugoslavia -Wallace figures 24-30 months to production from time of mining laws agreement -before the war Nesbitt had sent mining analyst to Yugoslavia. -Daniels owns about 10% or so of company That's about it...maybe others at the meeting went to the pub with Daniels and crew...and gleaned some other goodies. And if I have misunderstood something I hope someone will correct me.

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