Sasamat Capital Corp (Formerly Bresea Resources) Message Board

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Gold/Mining/Energy : Sasamat Capital Corp (Formerly Bresea Resources)

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To: IngotWeTrust who wrote (1)	4/27/2002 12:33:17 AM
From: Lalit Jain	Read Replies (1) of 96

Just got Sasamat proxy circular and '01 financial statements. - nominees for Sasamat: Michael Smith Roy Zanata Jimmy Lee Robert Demers Phil MacDonnell - No employment contracts for any, but have an annual retainer fee of $10K each. -6.552m shares o/s after consol., -s/h equity is 16.7m -equity/sh = $2.55 cdn -assets are down by $2.5m -admin exp = 0.5m (increase of 150% from'01, prepaids ???) -Prof. fees = 3.7m (probably legal, PWC, etc.) -Litigation settlement = $9m (not yet paid) -Interest & rental income was $1.9m !!!!! -Cash & short term invest. = 25m -Sasamat sold it's 23% interest in Bro-x for $40k loss (proceeds of 562k ????) -Sasamat hold 49m shares of Bre-X (carrying value=0) -nbv of bldg=$964k producing net rental income of $375k Q2/02 - expected to make new settlement agreement application in court of Texas Cheers, Lalit Jain

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