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Gold/Mining/Energy : Golden Briar:MSE

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To: Stephen Mooney who wrote (1)10/7/1996 7:03:00 PM
From: RJ Snider   of 11
 
Mr. Mooney, As what you've deciphered is somewhat correct to a point on
the ratio holdings on the Kelly Twp. where many of the investors are now trying
to implement into the entire play. The fact of the matter is Flag is the
one who has the largest land interest probably 3/4 of the land staking
if not more. Flag runs the whole show in the McNish and Macbeth Twps.
which I'm lead to believe is the prime piece of the entire land holdings
to date, without looking at, or knowing nothing about the other areas of
interest. The Kelly, which is 51% GLB and 49% FGR.A is the area most people
are watching now and I would'nt be surprized, if there could be Gold in
the Copper, and silver in the Galena, what I keep on doing is trying to
look further into the postings because there are all sorts of hidden
enduendos. The split on some areas might be technical, but I think
Flag is strictly in the driver's seat and Golden Briar is a company most
people are going to factor into most equations as things unfold.

As for the Kelly play, and being approximate 55% stake owners in the play, I
figure the price of the stock is at bargain basement prices and should
be at least trading up around the $1.00 range in anticipation of a positive
outcome, but the market will dictate the price, not me! You start looking
at the Flag potential on the McNish, who has 100% staking rights and
GLB doesn't have any rights, there's no factoring involved. Each play on
the Wanpitei Anomaly between Flag and Golden Briar will be strictly looked
at as they come due and the circumstances will need to be calculated each
time differently. My thoughts on this complexed issue anybody else??
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