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Gold/Mining/Energy : Regal GOldfields (REGL -- Cdn over the counter)
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To: Brian Warner who wrote (274)8/1/1997 11:06:00 AM
From: Brian Warner   of 370
 
I spoke to Richard Brissenden this morning. He tells me that they hope to start drilling within two weeks. They are completing the "finishing touches" on financing and scaled down to a $500,000 drilling program from the $1.6 million plan, to avoid further dilution of the stock at these depressed prices. They have all necessary approvals and he is optimistic about their chances of success. He pointed out several advantages of the area if they ever get to the production stage: a 12 mile drive from a deep sea port, nearby mills and smelters, and an educated population. He describes their approach as "conservative," but he suggests that assay results could be obtained fairly promptly once the drilling starts. He can be reached at (416) 364-1130.
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