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Gold/Mining/Energy : Star Resources Corp. (SRR.TSE) (SRRCF.NASDAQBB)

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To: Paul Watkins who wrote ()	11/7/1996 8:16:00 PM
From: Tim Herbert	of 76

Paul, E.Charter of the Canadian Mining Newsletter seems to be impressed with the size of the diamonds. It must still be shown to be of economic grade, but the size of these rocks are a sure plus in defining the economics of this deposit. While I like our chances, I'm a little concerned as to the State of Arkansas' reporting policy. There is no standard carat/ton reporting or any quality measure other than size. Are these more of a phase III evaluation? I don't know. Anyway, the results are really quite good by 'bulk testing' measures. I think most investors are used to seeing DRILL results directly into kimberlite as opposed to TRENCHING into lamproite and the low carat/ton ratio may have scared them off. Besides the fact that this deposit has been picked over on the surface, the State of Arkansas were the ones who planned the trench locations, not SRR. I am certain that they(Arkansas) were more concerned with disturbing the park than optimum trench location for economic analysis. I would like to see some sampling into the richest prospects of this deposit, and I'm sure eventually that will be done. We do have diamonds however, and apparently very sizable ones at that. regards Tim p.s. Everyone should do themselves a favor and steer clear of the Nazdaq and SRRCF. Much better trades can be had on the Toronto as SRR. The MM's on the NAZ are the worst. Unless of course you like buying high and selling low :~)

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