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Gold/Mining/Energy : Starpoint Gold

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To: Qwerty who wrote (1745)	10/30/1997 1:33:00 PM
From: Frank Sauer	Read Replies (1) of 2378

Statement of defence filed against Global Securities Starpoint Goldfields Inc STS Shares issued 6,444,175 Oct 29 close $0.17 Thu 30 Oct 97 News Release Mr Harry Bristman reports The company filed a statement of defence and counterclaim in the Supreme Court of British Columbia in response to a statement of claim filed by Global Securities on September 29 1997. The company is claiming a breach of contract, negligent misrepresentations and breach of duty against Global Securities for damages and costs exceeding $50 million as a result of the loss of its Yetwene diamond concession. The company's auditors have determined a net present value of between $32.5 and $48.4 million. This is consistent with the net present values of the property established by Rescan Engineering in its financial analysis of the project. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

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