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Gold/Mining/Energy : Etruscan Enterprises Ltd

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To: Kevin Arenliu who wrote (37)	2/28/1997 9:49:00 AM
From: Malcolm Stagg	of 235

Kevin: I agree with your assessment and would add the following: -read the Credifinance report on their website. The most interesting thing is the possibility of Placer-Dome going for a buyout. We all know what happened to thir Bre-X bid (they need low cost large deposits!) and there are rumours of their EET optioned reserves being much higher than 1.81 million oz. -management has a reputation as skilled geologists and financiers. Located in Halifax they are quite unlike some of the "all-promo, no substance" conterparts on Howe Street. In fact they don't do enough promo but that is beginning to change. -About 80% of the shares outstanding is held by a tight group of 20 or so -they are well financed and have a large highly prospective properties left to explore and we should see some pre-result action in the stock now. -TSE listing said to be underway A great stock and I have bought it after looking at many. Malcolm

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