Swannell-SNL.VSE Diamonds in Forte a la Corne Sask.Canada. Message Board

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Gold/Mining/Energy : Swannell-SNL.VSE Diamonds in Forte a la Corne Sask.Canada.

GBR 0.810

+3.8%

Jan 9 3:49 PM EST

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To: J. Kittle who wrote (21)	2/3/1997 2:49:00 PM
From: Patrick Ives	of 48

Jeff: I contacted SNL this morning and they faxed me a letter that John Mooney has written and it basically reiterates the news release of Friday. It mentions the need to raise capital to continue the operations, work programs and aquisitions. It says active drilling (by a major) is presently underway surrounding the 'Adlatok River 2 property and further drilling is planned directly on said property. It says one hole has been drilled at FALC and even if it is initally unsuccessful (and the tests are not yet completed) further drilling likely would be warranted because of the large kimberlite body. They are also very upbeat about the joint venture in Argentina. I guess we have to sit on this one and hope for some good drill results. I can only think that they must be awfully positive about their properties because when the shares come on at the new price they will be a hard sell if there isn't some encouraging news. I talked to people at both DRZ and LAB last week and they are very excited about Adlatok property and I see LAB is starting to move today. I guess it is an excellent time to average down on SNL and I still feel this company will be a winner considering the quality properties they have. All the best, Patrick

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