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Gold/Mining/Energy : DIADEM RESOURCES - DIR,M

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To: Dave Tan who wrote (807)	1/6/1998 7:24:00 AM
From: DRT	Read Replies (1) of 897

You will not likely see any further dilution of WSCO's 60% interest in Tewah, if their Indonesian partner does not come up with 40% of the required financing, WSCO's share increases to 80%. WSCO's partner on Tewah is Mr. Probosutedjo, brother to the President of indonesia - the political side is covered. Also, the feasibility study assumes a new dredge, but others may be available to lease. To reach 100,000 oz/year, 2 dredges would be required. I doubt if dredge construction will be more cost effective than leasing (assuming availability). As for the processing equipment, where its alluvial, the gold can be separated using simple techniques (eg. gravity processing - involves flushing sediment over a seperator table which collects the gold). Work on their (70% WSCO/30% Antam)Tikkakur property is also ongoing - 6 gold occurrences with excellent potential for discovery of a high-grade deposit similar to ANTAM's Pongkor Mine (6 million tonnes @ 16g/t). Antam is Indonesia's state mining company - again, the political side is covered. DRT

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