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Gold/Mining/Energy : Indochina Goldfields ltd

ING 24.93

-2.1%

Oct 31 9:30 AM EST

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To: bigbuk who wrote (99)	5/20/1999 1:20:00 PM
From: NPValue	Read Replies (1) of 109

Re-assignment of Ed Flood to Asian properties I think the announcement of Ed Flood relinquishing the president's position and being named "deputy chairman" is basically a signal that his talents can best be used to get the Sekatak, Jelai-Mewet, and Thailand properties into high gear. As it is stated in the just released 1998 Annual Report, any significant discovery they make on any of their properties will require at least 5 years before mined production is actually sold on the market. In order for them to really become a major player, it appears as though the market is saying they want an additional property with Monywa. The Bakyrchik mine is looking doubtful at this point, and if Sekatak or Jelai-Mewet really have the goods, it is now or never. Hence, Freidland and Flood have agreed that the best use of Flood's time is to have him on site at the properties. I would agree. The price is down a bit today, but I still think that a PR on either Sekatak or Jelai-Mewet should be coming out within a few weeks.

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