Armada Gold 10 Million oz of Gold & 1 billion lb of Cu ! Message Board

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Gold/Mining/Energy : Armada Gold 10 Million oz of Gold & 1 billion lb of Cu !

AAU 0.380

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Sep 29 5:00 PM EST

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To: Tim Cruise who wrote (91)	2/23/1997 4:53:00 PM
From: Syncrude	of 552

Armada has 108,447,557 common shares oustanding on a fully diluted basis (source current prospectus). As for proven reserves, I think we will only know this once the feasibility by Davy International is completed. The prospectus now refers to the 2nd quarter on 1997 rather than the 1st as I was led to beleive by Armada. The number of oz you refer to, appear to be plausible. Don't forget that Armada also has a large copper resource. I will try to post an update when I complete going through the prosepectusn (97 pages!).

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