Cadre Resources (CSL.V) Awaiting production #'s and Financ Message Board

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Gold/Mining/Energy : Cadre Resources (CSL.V) Awaiting production #'s and Financ

CSL 322.80

+0.5%

Dec 4 4:00 PM EST

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To: Francis R. Biscan Jr. who wrote (453)	11/20/1997 10:19:00 AM
From: Joe Bilich	Read Replies (1) of 1285

I had an opportunity to call Cadre yesterday and spoke to Page Chilcott at some length. While I don't have anything really earthshaking to add to the thread based on the conversation (you have reported the developments at some length already) I did come away from the conversation with one solid impression: Page Chilcott seems like a real solid type--no hype, just solid facts and plans. I felt pretty comfortable that he had things under control and was capable of waiting things out to get the company a good deal. A couple small things to note: There are two groups in discussions now. The basic differences in proposals are that one would take gold only and the other would include the other products, and one would take the project now (and essentially bet on a favorable Bateman study outcome) while the other would wait for that study. In one case the discussions is directly with the princiapsl, in the other complicated by going through intermediary agents. These discussions are in no way a "standstill"--Cadre continues to entertain and in fact get other indications of interest, one as recently as this or last week. The two groups now in discussions are aware that Cadre will entertain any other offer that will come along too. Page indicated that they would not do any promotion until they had a good story to tell (i.e. a deal and then visibile progress on the study). All in all I felt that they were still working their plan through a crummy market.

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