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Gold/Mining/Energy : Phoenix Gold Resources (V.PHO)

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To: wb who wrote (239)7/31/1998 9:34:00 PM
From: JCNelson   of 285
 
Hello Jim,
This is what I received from Robert on the 27th. There is not much here but that is all I have,hope it helps.

From Robert,
I agree that a little progress report would not hurt anything. The plan was to have something out long ago and to continue with frequent
updates. Unfortunately we have not been able to do that. Any updates to this point would have most certainly been viewed as neutral or negative as we have had to change the game plan a bit as we moved forward on the "processing for cash flow to further develop the property plan" - which is still the goal and it is looking more positive than ever now.

I am sorry that I cannot tell you more at this time but we are pushing for, and making forward progress every day. Both John Carson and I are again travelling to Utah likely later this week to oversee the latest developments. All going well we should be able to update all with some news shortly after - again, no promises but it is definetly time.

Best regards,
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