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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: Ronald P. Margraf Sr. who wrote (129)1/10/1997 8:29:00 PM
From: Ronald P. Margraf Sr.   of 495
 
TO ALL <UPDATE>!!!!!!!!!!<PART 3><END>

O.K. folks have a few minutes so I'll try to give you some more of what
we descussed the other day. I'll pick-up where I left off. Let me see,
that would be Item #7 next.------------------

7. (Let me estapulate on item #6 a little more), ---------------

Q.> So what are you telling me as far as the merger goes?

A.> There will be an Extra Ordinary Meeting for the share holders sometime

in mid Feb. or early March. The reason for the delay was we where waiting

to put the people on board that we wanted. That has been done. Now things

are moving along very nicely and we should start seeing certain things

begin to develope.

Q.> Correct me if I am wrong, But do you see the drill results coming

back before the merger is completed therefore driving the share price up?

Will you delay the merger until that happens, therefore making AAGs

contribution in share less?

A.> No! We will not delay the merger for drill results. The only way the

drill results will come in first is if there is a delay or problem with

the merger. The merger is expected to take place first, but then anything

can happen.

8. Share price.------------------

Q.> I have been wanting to double my position, so you can understand

the concern with the drill program. What sort of window would you say

I have before it starts or can expect news that will impact the share

price?

A.> Again I can't give you a time for the drilling to start. I may have

an answer for you next week. As far as news, again there will be a release

maybe Wed. of next week. In reguards to share price increase, I have had

a couple of individuals call me asking the same question. They want to

take a 100,000 ea.. They also wanted to know when drilling was going to

start. I don't know why that is all anyone wants to know. We have much

more information then just drilling. No one want to know about anything

else. I'm amazed.

Q. & A.(ME) > The drill program is important. You know as well as I do

that when you mention drill dates the share price goes up in anticipation

of positive results. That is why they want to know. You have to remember

some of got in when it peaked like me and now we want to get a little

at the lower end to offset the costs. So I ask you, what is my window

before it closes?

A.> I understand now. As far as the window---------

Q.> Would you say maybe 2 weeks or more?

A.> (Now pay attention to the answer) that sounds about right, but I will

be able to answer that alot better next week. Please call me at the same

time next week and I will be able to give you a better answer.

***Well there you have it. That is pretty much the gist of the conversation.
You will notice that I didn't use any quotation marks because it was not
a taped conversation but the answers are pretty much what was said. There
was some small talk also and a few other questions asked and I could
probably answer some more if you have any, but I thought that these where
the most important to us all. So I sure hope this is good news for you
all. I have been invited back next week for a phone conference early next
week. We will see if the information next week can be more defined.

Well thats it.

May the stock gods smile on us,

Ron
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