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Gold/Mining/Energy : Fancamp Resources Ltd. FNM

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To: Art Clements who wrote (107)	3/4/1998 1:31:00 PM
From: FSR	Read Replies (1) of 154

Greetings To All - Talked to P. Smith about 3 weeks ago for updating on company operations. Results for Okwa drilling delayed due to drillers pulling out of area for Xmas break and then having to travel back in to area. Indicator minerals for testing the presence of diamonds not showing high probablability in the Gemsbok S. Block. as once thought. Following up on another company's exploration results in proximity to Gemsbok S. Block for possible further potential. Kennecot has moved its office out of eastern Canada - Peter is trying to find new J.V. for this project. Results for Johan Beetz speak for themselves. At the time of our conversation there was approx. $600,000 in the kitty. Not alot but enough to keep some of these projects moving. My thought is that Botswanna may still have potential but it is quickly losing it's 'lustre'. Bearing positive results from Okwa, the last kick at the can may only be a J.V. for Hubble / Tsetseng. At these latest prices it might be a good time to dollar cost average in the expectation of higher prices if a J.V. signs up? What do you think viewers Thanks UTS

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