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Gold/Mining/Energy : MARUM RESOURCES ON ALBERTA

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To: Chuca Marsh who wrote (1894)	6/1/1999 5:31:00 PM
From: George S. Montgomery	Read Replies (1) of 2514

Chuca, help me out. I see the NR speaking to 2.75-million Units, each Unit being One Share at a dime, and One Warrant at 11-cents. This puts the number of Shares Up For Sale as 5.5-million. With about 25-million shares outstanding, the 5.5-million is more than 20%. I do not know what flow-through is. Maybe that explains the difference in what you say and I see. Reduced to a black absurdity, this would mean that the offering makes the current Market Value of the Company about 4 or 5 times $275,000, or a bit above a Million Dollars. Please do not be stunned by my reaction, simply because I am stunned. geo

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