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Gold/Mining/Energy : Whitegold Resources Corp (WGO) Asset Rich, by any measure -- Ignore unavailable to you. Want to Upgrade?

To: robwin who wrote (242)	12/8/1997 12:54:00 AM
From: Herman Leusink	Read Replies (2) \| Respond to of 378

Robwin, I was in Vancouver a week ago and spent time with Colin (a Director) and Brian (the President). It was good to spend time with them in their new office. They do not expect any negative impact from Allan and his troubles with the BC Securities Commission. The study is not finished yet. They are confident that they will be able to release it in January since Rescan is making good progress. I saw drafts of several of the comparative production cost tables that will be in the report, and the news will be exciting when it comes out. We will be able to sell the entire production at very competitive prices and make an excellent profit. The plan is to build a road all the way into the site rather than a pipeline and a road. The intent is to mine double the initially planned 25,000 tons per year. This would allow them to ship 30,000 tons of processed ore. They are well along in discussions with the Indian band in the area and have their firm support, hence permitting should be relatively easy. The big question is whether they will bring in an experienced, large partner, or will they go it alone. We should know by next summer, but it will be interesting to see what happens. Both Coli and Brian showed a marked lack of interest in selling the project outright. There was more, but the report will be out next month. Let's just see what the official version says. Herman