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Gold/Mining/Energy : Cadre Resources (CSL.V) Awaiting production #'s and Financ
CSL 316.32+3.7%Nov 25 4:00 PM EST

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To: Joel W. Grothendick who wrote (502)5/27/1998 7:22:00 PM
From: Francis R. Biscan Jr.  Read Replies (1) of 1285
 
>>Rich, I'm beyond frustration at this point-I'm really pissed. I can
just imagine how you should feel (many multiples of what I feel). I implore you as the largest shareholder I know to get the ball rolling in the right direction(out with the old, in with the new). If you can oblige, my shares are behind you.<<

Joel,

I am sure your voice has many friends. All I can say is, I have no intention of loosing my money, or having it diluted away, with no advancement in shareholder value. Timing is everything, and thats not to say it hasn't been too long for things to come into there own. What I mean is, in order to go in another direction, everything has to be in place to do so.

I have put many, many hours into helping CSL achieve it's goals, without receiving a dime. I was the only person to put up their money with the $1.50 financing. The stock was trading at about 0.90C when it closed and I was never offered a price reduction. This is, by far, the most I have ever backed a company financially. It has been, and continues to be a drain on my family.

It is difficult, at times, to take the emotions out of the decision making process, especially when under financial pressure. There will be no hesitation when I believe the time is right. Until then, I will do all I can to aid the company towards it's goals.

Have a good night,

Rich
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