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Gold/Mining/Energy : Gallery Resources (Alberta GYR) -- Ignore unavailable to you. Want to Upgrade?

To: Robert J. Mifsud who wrote (1108)	11/28/1997 9:26:00 PM
From: mabo	Read Replies (1) \| Respond to of 1829

$208,000 suit filed over Cariboo propertyÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Gallery Resources Limitedÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ GYR Shares issued 26,195,002ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Nov 27 close $0.47 Fri 28 Nov 97ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Street Wire by Brent Mudry Gallery Resources faces a $208,000 suitÿ fromÿ aÿ Calgaryÿ claimÿ operator, whichÿ also seeks the return of title to a number of claims in BC's Cariboo region known as Gem Group 1 and Gem Group 2. In a statement of claimÿ filed Thursdayÿ inÿ BC Supreme Court, Carverson International, run by Don Carter, namesÿ Gallery,ÿ Kotzerÿ Enterprisesÿ andÿ Frankÿ Kotzerÿ ofÿÿ Quesnelÿÿ as defendants.ÿ Theÿ suitÿ notesÿ that Mr Kotzer bought the claims for $50,000 from Janet Bird and optioned themÿ forÿ theÿ sameÿ priceÿ toÿ Carversonÿ in October 1989. Carverson claims it spent $207,900 by January 1996 working on the property. The suit claims that Mr Kotzer met with Galleryÿ inÿ 1993ÿ to discuss Gallery buying the claims from Carverson. According to the suit, three years later, in Marchÿ 1996,ÿ Carversonÿ first foundÿ out about the negotiations with Gallery, when Mr Kotzer said Gallery was interested in paying $1 million for theÿ claims.ÿ Mrÿ Kotzerÿ allegedly assuredÿ Carversonÿ thatÿ itÿ wouldÿ get $250,000 out of the deal. The suit makes no mention of who might receiveÿ theÿ remainingÿ $750,000.ÿ Carverson claimsÿ thatÿ on April 25 1996, Kotzer Enterprises optioned the property to Gallery for 100,000 Gallery shares, $125,000 cash over fiveÿ yearsÿ andÿ $1 millionÿ ifÿ Galleryÿ chose to exercise its option. Carverson claims Kotzer induced it to miss submitting its assessment work and paying its assessment taxes, in a bid for Kotzer to regain title to the claims. Carverson seeks a court declaration invalidating Gallery's interest in the property.ÿ Gallery and its co-defendants have not yet filed statements of defence. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

To: Robert J. Mifsud who wrote (1108)	11/30/1997 2:20:00 PM
From: Terry J. Crebs	Read Replies (1) \| Respond to of 1829

Sure Robert, on 5-Nov-97, Gallery's PR (end of 6th paragraph) states: "...the Company has arranged to carry out a down hole pulse EM survey to commence early next week." LaMontagne does not DO pulse EM (i.e., like Crone or Geonics or SIROTEM time-domain electromagnetic systems) while LaMontagne's UTEM system (for University of Toronto ElectroMagnetics) uses a "saw-tooth" or "hybrid" transmitter waveform. Yup, a pretty big difference for one like me. I know no experienced mining geophysicist who calls UTEM a "pulse EM survey". If that's what Gallery did--then yes, my comments about Gallery's changing contractors was wrong, as I assumed OK-M1 had already been probed with a non-UTEM system in early November. The releases and my experience with differences between Borehole-PEM and -UTEM was the basis for those comments. Robert, I appreciate your questioning and pointing-out my assumptions. Yup, I get it wrong sometimes too. Good Luck & Have a nice weekend, T.