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Gold/Mining/Energy : TRIVALENCE MINING -- Ignore unavailable to you. Want to Upgrade?

To: Phil Cressman who wrote (456)	6/26/2000 4:34:00 PM
From: Phil Cressman	Read Replies (1) \| Respond to of 527

Here's some information that one should keep in mind. Of the 17,300,000 shares outstanding Lutfur Khan controls 6,170,000 and the total insider holdings are 12,500,000 a whopping 72.5%. I've been told that Mr. Khan's average share purchase cost is about C$1.50 so contrary to Elizabeth he sure didn't get them for nothing. There are options out there for another 5,536,250 shares (To insiders) but these aren't free either since the exercise price is C$2.30. For the year 2000 an estimated 33,000 carats of diamonds will be sold and bring in an estimated US$14,500,000. To get these diamonds TMI will process something like 600,000 tonnes of alluvials at a cash cost somewhere around US$ 7 million. Pretty obvious that salting of diamonds isn't taking place wouldn't you say. A main reason for hiring MPH Consultants to prepare and run the bulk sample of 10,000 tonnes from K23 is to make it very clear to investors (present and potential) that no fiddling of results was done. TMI's own people could have run the 10,000 tonnes and prepared a report but because of the whole BreX thing it was felt best to get an independant report. Now another reason for this might be that TMI were already certain that K23 would be economic and the extra dollars therefor well spent. I guess what I'm trying to point out from going over the above details is that far from milking the cow Management have been carefully nurturing it to give better and better results in the future. Private Investors really haven't put the cash into this company to allow it to develop as it has but Mr. Khan and company really have. I'd expect them to benefit handsomely from their investment and am perfectly happy to be along for the long haul.