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Gold/Mining/Energy : Bomax Resources - BXS.VSE

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To: Leigh McBain who wrote ()	3/14/1997 11:30:00 PM
From: Clark Kent	of 313

This looks promising Stockman's Forum Bulletin March 13, 1997 Subject: Bomax Resources Dear Leroy, Here's an update on Bomax Resources (BXS-VC). Due to problems in getting a sufficient line of credit with his bank, the order for 1500m3 granite didn't materialize. However, the customer is now taking it in smaller parts and actually the first shipment is loading right now in Surinam. It will be delivered in Amsterdam in 2-3 weeks from now. Every 10 days there will be a shipment of 100m3 granite to this customer at US$900 per m3. The VSE approval for the acquisition of Surinam Stone Industries is expected next week. March 24 will see the shareholders meeting and -approval. After that, the company will start the promotion. They expect to be in positive cash flow one month later. Contacts have been laid with a guy in California. He's a link to the Hilton Hotel Group, which is going to build some 200 new hotels in the next 10 (?) years. They, and other customers, need lots of BLUE granite and it seems that only Bomax can deliver this sort in heavy quantities. David Krenbrink is still looking for earnings per share of between 0.50 and 0.75 for the coming fiscal year. Shareprice very, very low right now: 0.42. The Dutchman

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