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Gold/Mining/Energy : MILL CITY MIY-V

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To: maxed who wrote (222)	12/8/1997 2:39:00 PM
From: Leigh McBain	Read Replies (2) of 707

Spoke with Larry at MIY this morning and this deal, according to him, is by no means done. The potential value of the certification alone, may well be in the range of $100 million US. The units are expected to retail somewhere in the $2 Million range. Expectation is that there is somewhere in the 6-9 month range left for final certification and Larry seemed to feel that the law suit was not to going to be too big an issue, in the long run. We'll obviously have to wait and see on that count, in the mean time they are continuing forward with their due diligence. Larry also filled me in a bit on a bit of the business side of things and indicated that there is already a market ready and waiting for the product. The airlines need something of this nature to use for pilot training and the existing 2 seat version is intended to be marketed for that purpose, as stated in the news release they have also looked into a revision process to create 4 seater personal use unit and this possible model is also looking good. The whole package still needs some further clarification, but sounds to me like it may very well have some serious merit. Salut, Leigh McBain

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