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Gold/Mining/Energy : JAB International (JABI) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Galkowski who wrote (1263)	11/17/1997 11:25:00 PM
From: Mr. Miller	Read Replies (3) \| Respond to of 4571

Thanks Darlene for the confirmation and info. Thanks to you, too, Bill. I called the broker in NY tonight and wanted his opinion of the day's events. He did not buy anything this morning, but bought later in the day when BCMD gave up early day's gain. He knew it would happen since the news was not that significant. He told me that he was sitting on a large position(average price was $0.63) and was almost fully invested. He has moved some out and back in over the past month. He is playing with it a little(little out at 1 7/16 and little in at 1 5/16). I really wanted some more info on JV and gold that might be there. JV: what we talked about were the numbers. He had heard anywhere from an infusion of 5 million to as much as 35 million from a variety of sources as recently as two weeks ago when the deal was to be finally completed(his projection was fourth quarter). He said that it was too early to tell who may have signed, but what he was hearing, from Shasta and miners(visited the site), as well as PR(not directly), and an unnamed source in Nevada(??? back to this in a minute), indicated that the deal would go down at a much higher level than even 35 million. He believed a more realistic infusion would have been around 10-15 million, but this source has been the catalyst for upping the estimate. The person is in Las Vegas and acts not as a broker, but somewhat as an informant/info finder. Someone close to mining stocks and mining companies in general; someone my broker respected very much. According to this source, the price was well above 35 million. I asked why this bidder would not just buy the company? He said 35 million is hardly what the company was worth---->Based on previous core samples and speculation that there was over 8 million ounces of gold in the mines as a whole, he felt this company was worth over $50, easy. He saw this as a distant figure which is why he pegged $10 by end of fiscal year for conservative purposes. He said that he would be considered a wacko if he were to tell his colleagues that BCMD would be going to $50 by end of fiscal year even with his information. I asked why I would not consider him a wacko. He said you could, "but would you change your mind if I told you that the JV announcement coming in the next 10 trading days would be an infusion of over 35 million dollars?" I said of course, but what about what about you saying that BCMD would wait and that JV would wait and all that. He said that his source in NV was indicating that preliminary results of gold production were better than anticipated and that the JV was real excited to get going. I asked, "Then what they found was enough to get the JV now. They got the big fish?" Reply:"Hook, line and sinker!" I asked: what about this press release? He said it was meant as an update, but to be as benign as possible. BCMD wants the ball rolling, but JV wanted to wait till their deal was completed before going forward with news releases. Why? He thinks that JV wanted to control how info would be disseminated going forward. He thinks a major change would occur at PR level, perhaps adding to Lionel, the one-man wrecking ball. "And how much gold is there-I've heard anywhere from several hundred thousand to 15 million?" He said that 15 million may be right, but that knowledge was too unpredictable-new complete assays would need to be done. Right now it is his collective belief that 8 million ounces are there. I asked why the company has not released that kind of info? He responded by saying that the brochure BCMD sent out was toned down for fear of losing JV's, but the real numbers have been tossed around in negotiations, now that they are at the table and have seen the mines. His "ears" have heard 8 million ounces being a conservative estimate of what could be there, but that new assays WOULD need to be done and verified. Overall: this guy loves BCMD. He is very articulate. Somehow, someway he is getting good info. The only way to prove any of it would be to wait and see if he is right. He, too, now has a deadline to meet as does BCMD. Both have to come up big in the next couple of weeks. He still thinks that BCMD has a great find and once news catches on(CNBC, ABC, CBS, NBC, FOX, CNN, etc., other media), they would be shouting GOLD RUSH of the 20th Century! Time frame remained the same-$10 by end of fiscal year, but that was very conservative. He thinks this company could be a monster. He is hoping that the JV will be able to direct BCMD in the most efficient way to developing the other mines, because BCMD would not be able to do that very well. He thinks they might waste alot, so the JV would be more than just money infusion. He said for me to keep my eyes on the stock and to invest as much as possible(and maybe send some investment money his way). Okay I'm getting too tired now, so I must stop, but I think thatis all again. I truly think he was honest. I stick with my personal thoughts of 2-3 dollars by end of year, maybe 4. This all seems just too good to be true. I only offer it to aid in your understanding, since info is so hard to come by. His initials are J.B. M