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Gold/Mining/Energy : DIAMONDWORKS DMW.v -- Ignore unavailable to you. Want to Upgrade?

To: david who wrote (347)	9/14/1999 6:31:00 PM
From: gg cox	Read Replies (1) \| Respond to of 413

From DW web page. Statement & Media Advisory As a public company with hundreds of international shareholders, and whose shares trade on the Toronto Stock Exchange, DiamondWorks is held to the highest standards of accuracy and must satisfy broad requirements for disclosure in reporting on its affairs. DiamondWorks understands the information-gathering process followed by media and respects the fact that most writers and editors are committed to accurate and fair reporting. Nonetheless, there have been a number of serious mistakes that have been made in some published and broadcast accounts that have purported to describe our business activities and our present and former ownership structure. Most of these mistakes could have been avoided by routine fact checking. Unfortunately, the ease with which false information now finds its way around the world has meant that many databases regularly accessed by writers, researchers and editors are now contaminated by erroneous information about DiamondWorks and its wholly-owned subsidiary, Branch Energy Ltd. Unquestioning reliance on these databases can be a trap for the unwary, who can unwittingly perpetuate flawed information. DiamondWorks has a policy of correcting false information when it comes to our attention and we have found that responsible media usually cooperate to correct the records they create. As part of our contribution toward establishing an accurate record, and as a caution to others, we have assembled below some selected common, and not so common, mistakes and corrections. We have also reproduced some of the articles where serious errors of fact have been reported, as well as the accompanying corrections. In addition, we strongly urge researchers, writers and editors to check all their facts concerning DiamondWorks and Branch Energy Ltd. directly with Bill Trenaman, Vice-President, Corporate Development, at ,DiamondWorks' corporate office in Vancouver, Canada, tel. +1-604-669-8871; fax +1-604-682-2060; email bill@diamondworks.com. Additional information on DiamondWorks' operations can be found elsewhere on this website, as well as on the SEDAR website at sedar.com. 1.Branch Energy Ltd. is sometimes confused with the separate and distinct Branch group of companies. Branch Energy Ltd.'s only commercial interests are diamond concessions in Angola and Sierra Leone. It does not have any assets or interests in any other country. 2.At no time has Branch Energy Ltd. bought, or otherwise obtained, mining concessions in Sierra Leone, Angola, or elsewhere from Executive Outcomes or any of its related companies. 3.Neither Executive Outcomes, nor any of its related companies, is a shareholder of DiamondWorks, or of our wholly-owned subsidiary, Branch Energy Ltd. 4.There is no relationship, corporate or otherwise, between DiamondWorks and and Executive Outcomes or Sandline International. Furthermore, there is no relationship, corporate or otherwise, between Branch Energy Ltd. and Executive Outcomes or Sandline International. Executive Outcomes does not have an interest in Branch Energy Ltd.'s diamond concessions in Sierra Leone, or elsewhere. 5.Neither DiamondWorks nor Branch Energy Ltd. have ever contracted with Executive Outcomes. 6.Teleservices, the firm that DiamondWorks and many other international companies employ to provide security at its operations in Angola, is not a subsidiary or sister company of Executive Outcomes. 7.Tony Buckingham does not run or control Branch Energy Ltd. Mr. Buckingham is a shareholder in DiamondWorks and has voting control over approximately 13.2% of DiamondWorks outstanding shares (as of June 11, 1999). He resigned as a director of DiamondWorks on October 7, 1998 (See News Releases). He has no executive management role with DiamondWorks or Branch Energy Ltd. 8.Mr. Buckingham introduced the services of Executive Outcomes to the governments of Angola and Sierra Leone, but neither he nor any companies he is associated with, including Branch Energy Ltd., paid for, or otherwise sponsored, the provision of these services. 9.Neither Robert Friedland nor Eric Friedland control DiamondWorks. Robert Friedland is a shareholder in DiamondWorks (he indirectly owns approximately 4.5% of DiamondWorks shares), but has no involvement in the management of the company. Eric Friedland is one of the company's non-executive directors. 10.Raxesh Saxena is not, and never has been, a director or officer of DiamondWorks. Furthermore, Mr. Saxena has never been involved in any management capacity whatsoever with DiamondWorks or its operations.

To: david who wrote (347)	9/15/1999 3:11:00 PM
From: marcos	Respond to of 413

Thanks, david - looks like positive cash flow, eh - taking a conservative 12,000 cts X 190US$ [after deducting commissions and fees etc] = $2.28milUS or $3.4milCdn per month ... that's over ten percent of the current market cap - per month Logged on and turned the radio on just now as a piece on Sierra Leone came on - cbc radio 690 AM Vancouver ... a guy named Ian Stewart ... he points out the huge resources in diamonds etc ... calls the deal with the RUF a 'necessary evil' - "... if not for the amnesty, there would be no peace, they would still be whacking off limbs right to the centre of Freetown ..." [paraphrased] I can't see why this thing is still trading at a market cap of 20 millions US$, other than the fact that First Marathon is still feeding out shares and holding a wall on it - and the answer to the question of why they are doing that still eludes me .... i highly doubt that they are acting for an investor or fund who simply wants to divest, because in that case they would raise their offer and get a lot more - this outfit won't go broke this week, that seems pretty clear now.