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Gold/Mining/Energy : Cartaway resources -- Ignore unavailable to you. Want to Upgrade?

To: Supervalue who wrote (1296)	12/16/1997 12:51:00 AM
From: Tommy D	Read Replies (2) \| Respond to of 2505

I do beleive the comments were coherent. I have no geological or engineering experience but I have followed the stocks in SVB for the past few months and have seen many more results and much quicker from other companies. If someone can explain why this company takes so long to respond, great but the reality is that while other companies reported results, the stock dropped from the $.28 to $.34 range that it was trading in in October and Nov. to the recent share price. Secondly, you have continually sugested that Pattison was in some way going to bring more funds to the table. I went back and got the August 7, 1996 new release. I don't know how to reference it on this message like everyone else but I will tell you of the essential parts. Pattison's company provided funding of up to $2.5 million in exchange for a convertible debenture, convertible for 5 years into shares, based upon an escalating exercise price from $.80 to $.96. Alternatively, Pattison could retain a 10% carried interest with a $500,000 debenture or in order to get a 40% interest, Pattison's company(134 Ventrues Ltd.) would have to advance a further $5.5 million. It seems to me that with the sort of results announced, there is no incentive for Pattison to do anything other than sit on his first option and see what happens in the future as he still has 4 more years to exercise his option to convert his debenture into shares. Until there is some economic results from the properties that his company is participating in, why would he put more money in. I am not neccesarily being critical of your previous comments regarding Pattison as if the results had been positive, there may have been more funds forthcoming but it doesn't look good right now.

To: Supervalue who wrote (1296)	12/16/1997 9:56:00 AM
From: Jimsy	Read Replies (2) \| Respond to of 2505

Super Durdle - best thing for Cartaway to do now is to join the kingdom of Donner. That way they have the resident Teck team scouring their property for some sort of percentage, and if anything is found its off to the blue yonder, if nothing is found on Cartaway property should still get a kick once in a while from the others. 40% of something is better than 100% of nothing! A roll back and refinancing in this market would be disastrous, - who would ever finance them?