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Gold/Mining/Energy : ATLANTA GOLD CORP. (TSE:AAG)
TWG 4.030-1.2%Jan 30 9:30 AM EST
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To: Charles Kalb who wrote (112)12/19/1996 3:47:00 AM
From: Ronald P. Margraf Sr.   of 495
 
Charles,

My understanding is that the market right now is reflecting what AAG
assets are at present. The market for some reason doesn't really look
at AAG as the owner of the properties but only as a JV to VSY. At the
time I bought the stock I was a little pissed, but after spending much
time in conversation with AAG I found out otherwise. Actually VSY is the
JV to AAG upon their request. The thing is that VSY started the arm
waving and started the promotion, so naturally the market looks at VSY
and not at AAG. Thats OK to me. Let me get my positions straightend out
and then they can all wave their arms all they want.

The .60 is a reflection of the Idaho property, not the Indo play, so
you can see that there is alot of room here once the promotion start.
Like me most people don't even know who AAG is. The ones that have done
their du dilly are the one that find out the true story and then they
like me take a position on both partners.

My school of thought is this. If it is legal for them to buy NEWCO
share after the merger as a company just investing in another company
then you know what is going to happen. NEWCO goes up AAG goes up and
also it leaves AAG to also do other projects. The Idaho project is going
to go somewhere, either get sold or minded by a JV with AAG. They are
already exploring the possibilities of heap leaching. So you can see
that they are not sitting idle on the property.

I hope this helps.

Ron
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