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Gold/Mining/Energy : Gallery Resources (Alberta GYR)
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To: BMASS5306 who wrote (1079)11/25/1997 6:44:00 PM
From: Robert J. Mifsud  Read Replies (1) of 1829
 
BMASS5306,

First let me say that I don't have any concerns about how this company operates. My concern is with shareholders who come out with statements such as you posted in # 1076. I don't know what false promises you have been getting but I can tell you what has been said to me. Simply put, the company has anomalies on their Okak Bay and Harp Lake properties verified by multiple surveys and interpreted with highly positive indications by various geologists and geophysicists. It is now up to the company to prove out these findings. Unfortunately, this is not an easy task nor is it an inexpensive one.

It seems to me that you and other shareholders have a problem with Mr. Costerd financing these endeavours. The reality is Mr. Costerd purchased a private placement by putting up C$500,000 of his own money to get the work program underway and to prove out a major find. In return Mr. Costerd received one million units of the Company at a price of C$0.50 that are subject to a hold period which I believe to be one year. Can you or any other shareholders do such financing? I am sure Mr. Costerd would have been delighted to issue the one million units to you and to be working with your money at stake instead.

I am glad you believe in the company. Perhaps by showing more moral support we can encourage the company and its field crew, currently working in sub zero temperatures with nothing to protect them from the biting wind, to carry on with the difficult task of bringing to us what we are all hoping for, a major find. For in the end, if this was to be, we the shareholders will surely come first and share in their success.

Robert.
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