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Gold/Mining/Energy : TVI Pacific TVI (TSE)

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To: Jarrod W. Pakosh who wrote (41)	9/10/1997 8:18:00 PM
From: keith massey	of 152

Hey Jarrod I wouldn't sell quite yet. I bought in yesterday for the first time at .17 and will buy again at .15 and .14 in the next couple of weeks if it ever gets to those levels. No I am not crazy. This stock is dropping due to lack of news and massive selling by Scotia (1.3 million sold) and Nesbitt (500,00 sold) over the last month. Why are they selling? Who knows. Could be mutual funds switching out of the gold market, a stop loss by a big investor, prolonged disappointment in the King King results, etc. However I can tell you that this stock is being way oversold. Start going back in the news and you will see why this stock will run to .35 and beyond on the next news report. I called the company and the next release will be out in a couple of weeks. This is what I was told by the IR to expect 1. From news release 1997-07-17. A drill program will start in early Sept on the Buenavista property. If you read this news you will find that the inital grab samples from this property are very good. The company will state in its upcoming news release that they have started drilling on this property and will talk about how good the property is. 2. From news release 1997-06-16. " A decision on the Canatuan plant will be made on Sept 1". The upcoming news release will announce that they are going to start construction on this mine in Nov 97 and have raised the current production up to 80 tonnes per day which is bring in around $160,000(U.S) /month. If you check the figures on the mine from the news release 1997-06-09 you will find that this mine will have a profit of $84(U.S) million dollars ($115 million Can.) over it's 7 year life span. The initial cost of building the mine of $31(U.S) million is being covered by a loan which will be paid back within a year and a half of opening the mine. 3. From the news release 1997-06-16 you will find that a conceptual mine study is being performed on the results from Rapu Rapu. Based on the result (including 1997-04-23) it is possible that this could become a moderate size open pit mine. It don't know if information on Rapu Rapu will be in the next release. Call the company and find out what they tell you. 4. From new release 1997-07-10. They just did a JV with Minorco who is paying $4.5 million for exploration of two of their properties. They said in this news release that "the design of the initial exploration program will commence immediately". I am guessing that the next news release will contain additional information and possible announce that exploration has started. According to the IR they presently have $5.8 million in working capitial and have done several cost cuts to dramatically cut working cost. A would appreciate any comments BEST REGARDS Keith

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