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Gold/Mining/Energy : MONETA PORCUPINE ME.t

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To: denis J who wrote (264)7/22/1997 11:48:00 AM
From: denis J   of 440
 
BEV & James Good News - Bad News

spoke to moneta to-day that combined with what we allready know
is the following,

Good news

1. Michaud expected to contain 1.5 million oz proven and up to
2.5 m probable over mining witdhs of 4-6m 12-25ft
deposit open at both ends and depth

2. Expect year round road to be built this fall

3. First drill results from latest drilling on nighthawk property
should be released by the middle of next week , altough I would not bet on it

4. Barrick has the results and their people will (board) will review
mid august

5. P.O G looking better 327.8 as of this writing

bad news

1. review # 4 (good news) because that means we will not have any
confirmation much before the end of August beginning of September
on Michaud.

2. Looks like the July .75 cent option will not be exercised depending
on how you look at it that could be good or bad news

3. I am personnely loosing my formely strong support for this Stock
(that to could be construed as good news)

4. stock last traded at .39 a new low for the year

your comments

all the best to all

Denis J
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