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Gold/Mining/Energy : Coleville Resources - CLL
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To: Gerry Belanger Jr. who wrote (2463)7/16/1997 5:27:00 PM
From: Anand K Sharma   of 3058
 
Gerry, I am just trying to understand how it all works?

CLL put out a news release on June 26 stating that the next news
release will be within 10 days. Because of the seriousness of the
situation, many people have strong emotions involved.

I realize that you can not put out rumors but how long does it take to
explain after 10 days what the heck is happening. Are we still
planning the lawsuit but is taking longer than first thought? Are we
negotiating with ANZ, do we have plain run out of money or thought
lawsuit is a bad idea. Where are we contemplating filing, Toronto,
Indonesia or both? In our lawsuit, are we also going to force ANZ to
publish more of their recent data on Ojalali?

Another thing which is beyond me, how can 2 JV partners say that you
have so seriously breached the agreement that you are out while the
third partner says we have not breached any thing. Again, I realize
that parts of JV agreement are confidential but no attempt is made to
explain to investors what is the source of disagreement regardless of
who is right.

Gerry, we do not have any office in Canada. You are supposed to be our
only link. If you can not explain to us what is going on, who can?

Could you please explain what your role is and why you can not issue
one liners about what the situation is? Thanks a lot!

The suspense is killing! Bid on CLL again dropped sharply this
afternoon. We hear so much good news and stock is in dumps. It just
does not add up or I am too naive.

Regards... Anand K Sharma (AK)

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