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Gold/Mining/Energy : AMBREX..AMBX OTC

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To: Don who wrote (90)	11/28/1997 10:49:00 AM
From: Don	Read Replies (1) of 196

NEWS: Difficult to understand if or how this will further impact AMBX. I believe there will be no further impact and we should see price appreaciation based on recent and current drilling results. The whole family of companies took a hit because of the misappropriation of funds. Ambrex Mining Corp - Post says Gauthier's empire troubled Ambrex Mining Corp AMBX Shares issued 49551505 1997-11-27 close $0.06 Friday Nov 28 1997 See KWG Resources Inc (KWG) In the News The Financial Post reports in its Friday edition that KWG Resources has filed for court protection against creditors and said it is reviewing the circumstances surrounding unauthorized borrowings from two of its affiliates. Reporter Peter Kennedy says that in a statement released shortly after stock markets closed on Friday, KWG, a Vancouver-based mining junior, said the review involves more than $20 million borrowed from Calgary-based Genoil and a second affiliate, Emerging Africa Gold. KWG is part of Montreal promoter Pierre Gauthier's St Genevieve Resources mining group. The money was used to finance a Russian gold project known as Ametistovoe, according to KWG. Company officials including Mr Gauthier were unavailable to answer questions on Thursday. An analyst says that St Genevieve raised $120 million last year from six financings and shareholders will be interested to know where and how that was spent. KWG says its problems are due mainly to recent declines in the price of gold and base metals. Doug Leishman, a mining analyst at Yorkton Securities, says he stopped following the companies because he had no confidence in management. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

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