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Gold/Mining/Energy : JAB International (JABI)

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To: Charger who wrote (3506)	4/17/1998 7:12:00 PM
From: DDS-OMS	Read Replies (2) of 4571

Charger, I'm not sure we are saying the same thing. You wrote "Any mine which is developed during the period of time (the 18 months) that the JV is funneling money into the company, the JV gets a percentage of (30% was it? - or whatever that percentage figure was back last November)...gets a percentage of the proceeds off of that particular mine." From this, you seem to be saying that the Ruby mine would be included in Sterlings 49% of profits--since it will be developed while Sterling is putting money into BCMD. However, if BCMD uses only the money from the Reg S, then Sterling gets no part of it--unless they put additional money into the Ruby development--additional money above what they have already agreed to in the JV.

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