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Gold/Mining/Energy : IBI CORP IBIC (CDN)

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To: Frank Moss who wrote ()	4/1/1998 10:58:00 PM
From: Elizabeth A Rice	Read Replies (2) of 422

Someone asked earlier why the mine had been closed for such a long time. I don't know for sure but I used to live in Kenya which is next door to Uganda. During the time I lived in Kenya, Ida Amin was going bezerk next door and killing everyone he could find. He basically gutted the country, the economy and most of the people and caused such havoc that it has taken the country years to recover. After a period recovery the country has stabilized and has been seeking outside investments to it's economy. IBIC is one such company. As such it is my opinion that IBIC is able to fund this venture from other sources such as perhaps the World Bank and other monetary funds that are used to help ravished countries get back on their feet. The board of directors of IBIC seem like the kind of people who could pull a deal like this together IMHO. Once IBIC gets the TSE listing I believe that big time investors will be opening up the pocket books to buy into IBIC. Time will tell but I am happy with my investment in IBIC.

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