Armada Gold 10 Million oz of Gold & 1 billion lb of Cu ! Message Board

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Gold/Mining/Energy : Armada Gold 10 Million oz of Gold & 1 billion lb of Cu !

AAU 0.380

-5.0%

Sep 29 5:00 PM EST

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To: ASHLEY5 who wrote (326)	9/29/1997 4:51:00 PM
From: Ross Orr	of 552

The company announced today that it has retained Levesque Sec. to help it enhance shareholder value. What does this mean. It means that the company has a banking group that can assist it in evaluating any offers which may come as a result of the feasibility study being made public. It also will assist in evaluating and or distributing shares of Mongolia to the current shareholders. I am a bit surprised by the markets lack of interest in this annoucenment. I feel that it is a positive step towards increasing the share price. I am also encouraged to see that Mulroney is seeding Barrick bucks in Russia. The Globe and Mail reported that he has recently been in Russia meeting with officials about the giant Sukhoi Log project. This thing makes the AAU project look like a weak cousin. If I was a large company I think I would rather cut my teeth on something a little smaller. In any event the facty that they sent him is a good sign that the biggies are taking the country seriously which can only translate into more $$$$ per ounce in the ground. I still think that with the work done by Armada it would be a great place to start for a biggie. The hard work is done and the world bank or IFC can take a lot of the risk out of the project. Nothing a chairman hates more than to stand in front of his shareholders and tell them that he just blew a bundle with no insurance to back it up. The feasibility is still on target as far as I know. Any comments you have about the investor relations should be directed to Ivanhoe Capital which can be reached through the AAU website (www.armadagold.com) Hang in there.

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