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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge -- Ignore unavailable to you. Want to Upgrade?

To: Al Collard who wrote (5970)	1/13/2002 1:07:53 PM
From: geoffb_si	Read Replies (1) \| Respond to of 11802

Hi, Al: Trial of damages against IAMGold commences Jan 21st (see NR below). Courts determined IAMGold is guilty...now it's up to the courts to decide how much they owe Kinbauri. If there is a large damage award (Kinbauri seeking $10-20M), I would expect IAMGold to appeal, if history is any predictor of future. While I'm not counting on any resolution to this lawsuit soon, because IAMGold will probably appeal, I believe there may be trading opportunities in the next several weeks. Historically, it's been a thin trader, though... Geoff ---------------------------------------------------------- Kinbauri Gold Corp YKB Shares issued 7,169,934 May 22 2001 close $.120 Tuesday May 29 2001 News Release Dr. Vern Rampton reports The company has been notified that Mr. Justice Sedgwick of the Superior Court of Justice (Ontario) has ordered the following schedule for the trial on damages as to Kinbauri's claim against Iamgold Corporation for specific performance or damages in the amount of $10-million together with other relief due to breach of contract: affidavit of documents to be exchanged by July 31, 2001; examination of discovery to be completed by Sept. 30, 2001; case conference by telephone on Oct. 3, 2001; and trial of damages will commence on Jan. 21, 2002 (two weeks). In May of 1997, Judge Sedgwick rendered a decision in favour of Kinbauri on the liability portion of its claim against Iamgold. In November of 2000 the Court of Appeal for Ontario in a strongly worded decision unanimously endorsed Judge Sedgwick's ruling. Iamgold is seeking leave to appeal this later decision to the Supreme Court of Canada. A decision from the SCC is expected within the next three months. Dr. Vern Rampton, president of Kinbauri, previously noted that "all circumstances point to the SCC refusing to hear this case."