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Gold/Mining/Energy : Cadre Resources (CSL.V) Awaiting production #'s and Financ -- Ignore unavailable to you. Want to Upgrade?

To: Francis R. Biscan Jr. who wrote (721)	9/22/1999 8:47:00 PM
From: Spiney	Respond to of 1285

Cadre's Caroni River project not to be pursued by Teck; Bateman to look into projects Cadre Resources Ltd CSL Shares issued 4,063,218 1999-09-22 close $0.29 Wednesday Sep 22 1999 Also Teck Corp (TEK.B) Mr. R. Page Chilcott reports Teck Corporation has completed a review of projects being undertaken by Cadre Resources Ltd. A decision has been made by Teck, for reasons unrelated to the project itself, to not proceed with the company's Caroni River project. Although Teck views the project as viable and having good potential to be an economic project, it lacks a strategic fit with Teck's existing assets. Bateman Engineering Inc. has expressed an interest to work with the company to complete the scoping (prefeasibility) review of the Lower Caroni project which is expected to lead to a bankable feasibility study. Bateman will review and utilize all available reports and background information obtained to date including that of various consultants, equipment suppliers and marketing agents known to the company. Bateman has background knowledge of the project from prior interactions with the company and Teck which will facilitate a prompt completion. The reports and information are currently being assembled, and Bateman is prepared to comment on receipt of that information. Further, the company is in negotiations with Carlos Carlessi to amend the purchase/option agreement on terms more advantageous to the company than those originally negotiated. The property to be acquired is a profitable going concern and includes the Rosita I Concession and dredging equipment, gold processing laboratory and all other facilities including administration and all office equipment and certain motor vehicles In addition, the company has entered into a management consulting agreement with TCZ Consulting of Denver, Colo., subject to Vancouver Stock Exchange acceptance. Services to be provided include assistance in developing the corporate and financial infrastructure to capitalized on existing business opportunities and assistance in the procurement of financing needs. Management of the company continues to pursue the exploitation and financing for the Lower Caroni project commencing with the Bateman scoping study.

To: Francis R. Biscan Jr. who wrote (721)	9/23/1999 5:28:00 AM
From: TheBusDriver	Read Replies (1) \| Respond to of 1285

Saw the news release and initially my take is positive. Bateman can do the business but I have a bad taste in my mouth because of there involvement with IPM. This is probably no being fair to Bateman, just me being negative about anything remotely associated with IPM. TCZ, I understand, has a very good track record and have done some pretty good things for jr. stocks in the past. I like this part the best....improvement of share value. I will be adding to my position today. Overall, this will work out. Anybody else have comments? wayne