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Gold/Mining/Energy : Primo Resources - PRI.VSE -- Ignore unavailable to you. Want to Upgrade?

To: gian piero ciambella who wrote (556)	4/6/2000 2:31:00 PM
From: Leigh McBain	Respond to of 579

GP, there is some confusion as to what is going on re: the payment, notification process, etc. Golden Peaks had indicated that they had notified Primo of the cash call and that they had been ignored. I spoke with Georgia and she indicated that by the JV agreement, GL must supply 30 days notice of a cash call and she is claiming that they only got notification of the cash call on March 21 for a March 30 due date. The notification also apparently indicated that GL would be making the payment on April 3rd and so that is when Primo made their payment. GL has indicated they still have not seen payment and Primo claims that both companies are using the same management company and that they are the ones responsible for the transfer between accounts and that it has indeed been done, I am trying to confirm as we speak. Salut, Leigh McBain

To: gian piero ciambella who wrote (556)	4/6/2000 3:31:00 PM
From: Leigh McBain	Read Replies (2) \| Respond to of 579

First item, Sarah Cabianca is Ken's daughter. Second item, it is in no way unusual for someone to take a finder's fee in shares, at least not if they think the share price might go somewhere. Third item, I have been informed that Primo DOES have the financial where-with-all to take part in phase III. Fourth item, have been informed by Chase Management that Primo has indeed made the payment but there is some question as to the process used by the Chase and so the posting to GL's account may have been reversed. It was definitely late and so there are agreement compliance issues to be dealt with regardless. Fifth Item, I spoke with Primo and Georgia indicated to me that by the agreement GL was required to give them 30 days notice on cash calls, however, according to GL that is apparently only for the "Project's Phase Cash Calls" not for required payments of this nature. I have asked if I could get a copy of the JV agreement to review, but have not received confirmation as to whether or not that is an available "public" document. Salut, Leigh McBain