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Gold/Mining/Energy : IBI CORP IBIC (CDN)
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To: Frank Moss who wrote (99)5/28/1998 4:15:00 PM
From: Frank Moss  Read Replies (1) of 422
 
UPDATE!!!!
IBIC UPDATE: 4:00PM>>>>>

Posted by UFO INFO : IBIC on May 28, 1998 at 13:00:10:

THIS UPDATE IS TO CLARIFY THE RECENT STATUS OF IBI.
I SPOKE TO EDWARD THIS AFTERNOON TO CLARIFY AS MUCH AS POSSIBLE.

1) THE NON-FILING OF FINANCIAL INFO. THE INFO FROM GHANA THAT WAS SENT IN TO THE CDN WAS INCORRECT. IT WAS FROM 1996, NOT 1997. SIMPLE CLERICAL ERROR. ARRANGEMENTS HAVE BEEN MADE TO GET THE PROPER INFO TO THE CDN FRIDAY, OR NO LATER THAN MONDAY. AS SOON AS THOSE FIGURES HIT THE CDN, IBI WILL BEGIN TRADING AGAIN, BUT NOT ON THE CDN BOARD UNTIL THE SECOND PART IS COMPLETED :

2)THE INFORMATION FLOW FROM IBI TO SHAREHOLDERS AND TO THE CDN WAS NOT ADEQUATE NOR PROFESSIONAL. IBI HIRED IMMEDIATELY A FIRM RECOMMENDED BY THE CDN FOR THIS PURPOSE. THE FIRM AND IBI WILL MEET WITH THE CDN TO RECTIFY THE SITUATION.

3) EDWARD CONFIRMED THE INFO , AS POSTED EARLIER BY DBJB THAT THE GEOLOGIST REPORT SHOULD BE COMPLETED IN THE NEXT WEEK OR SO.

THESE ARE RELATIVELY MINOR DETAILS THAT MUST BE DEALT WITH. IT IS UPSETTING FOR SHAREHOLDERS TO HAVE TO GO THROUGH THE EMOTIONAL STRESS OF THIS, BUT REST ASSURED, IT DOES NOT AFFECT THE BIG PICTURE. IBI WILL HAVE ITS TSE LISTING AND THE INDEPENDENT TSE ACCREDITED GEOLOGIST REPORT WILL BE SPECTACULAR.

UFO
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