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Gold/Mining/Energy : Phoenix Gold Resources (V.PHO)

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To: Ron Struthers who wrote (133)10/16/1997 11:49:00 AM
From: Larry Rossi   of 285
 
Ron,

Talked to Carson on Tuesday, Oct 14.

Nothing real significant to report. He is still awaiting assay results, for a huge amount of platinum samples. He says that the results will likely continue to dribble in till about Christmas.

He was heading down to Utah that afternoon, I believe with Robert Miller, president of sister co. Orion Gold. Carson is very optimistic about the Utah property, as drilling is continuing to add to reserves. He feels they are starting to get a real handle on how the zone runs, and hopes that next few drill holes can intersect some significant sections. Broken rock is causing them to be very careful where they are putting there drill holes, as they do not want any failed holes.

Drilling is also, progressing on the Rock Creek property.

He was very upset on last Thursdays low share price close. As the trade price was hovering in the 30 cent range, why someone should sell at 21 cents at day end is a mystery, unless someone has a interest in driving the price down. (shorters ???)

Carson, like all of us is very hopeful, that one of these irons in the fire, is going to pay off. Lets wish him luck.

Larry
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