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Gold/Mining/Energy : Regal GOldfields (REGL -- Cdn over the counter)

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To: Brian Warner who wrote (279)9/24/1997 12:17:00 PM
From: Brian Warner   of 370
 
I spoke to Robert Brissenden this morning. He tells me they are close to having the financing in place to start the drilling program in Nova Scotia, using a flow-through share issue. They are planning to scale back the $1,400,000 eight month drilling program by $400,000 and complete it in four months, using two or three drills. I asked him about the recent volume of trades (relatively speaking of course), and he seems to be genuinely at a loss to explain it. He told me he thinks the investors could be "followers" of the people involved in the financing. Apparently the environmental/political concerns continue to be an issue in Nova Scotia as well. There have been no press releases because there has been nothing to report, which strikes me as an honest approach. FWIW, Brian
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