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Gold/Mining/Energy : A CANADIAN DIAMOND HUNT -- Ignore unavailable to you. Want to Upgrade?

To: Surething who wrote (107)	1/16/1998 7:56:00 AM
From: Mr Metals	Respond to of 930

Hi Surething I did not give away our secrets. I did tell him about the corrupt and devious shenanigans that goes on in the markets and these threads. EXAMPLE OF CROOKS. Rising Phoenix Development Group Inc - Response to VSE allegations Rising Phoenix Development Group Inc RDGShares issued 94526841997-11-28 close $0.33Friday Jan 16 1998Mr Angelo Holmes reports The company has responded fully and completely to all concerns expressed in the December 17 1997 notice to the VSE to no avail as those same questions remain a concern in their notice in Stockwatch January 16 1998. Further to the VSE notice dated January 16 1998 the company would like to address the exchange's allegations of certain breaches of the listing agreement and listings policies by the company. 1. Listing Agreement Sections 1.3, 1.8 and Listing Policies 7 and 8 All statements made to investors either verbally or written regarding the merits of the LAK Ranch enhanced oil recovery project in Wyoming were facts derived from independent third party reports written by Surtek Inc (refer to news release in Stockwatch May 7 1997), Dr Paul Trost and Dr John Donnelly. The company's current interest in the property remains at 100% until such time the joint partner fulfills its commitment of expenditures totalling US$4,000,000 to earn a 75% working interest (refer to news release in Stockwatch September 26 1997). The potential revenue projection disclosed in the company's news release dated January 13 1998 is derived from an independent report by Dr John Donnelly based, on a computer modeling simulation study frequently used in determining future cash flow. This figure was taken from an engineering review and not an accounting review. The company has provided the VSE with assurances through affidavits regarding its promotional, investor relations and market making activities. In conclusion, there are no undisclosed investor relations arrangements; however, the company cannot stop individuals from promoting the company's shares if they so wish, perhaps to enhance their own shareholder value. The VSE has not provided any evidence of individuals with securities industry disciplinary history dealing directly with the company. The company has no control over who trades in the company's shares. 2. Listing Agreement Sections 1.3, 1.8, 2.2 and 2.3 and Listing Policy No. 25 The company has assured the exchange that although May Joan Liu remains a shareholder of the company and is entitled to information regarding the developments of the company like any other shareholder, she does not act as a de facto director and is not involved in directing the affairs of the company. The board of Rising Phoenix has sworn affidavits to this effect. 3. Listing Agreement Section 2.3 and Listing Policy No. 6 The non-interest bearing loans of over $200,000 made to directors during the fiscal year ending April 30 1997 were in fact cash advances against expenses incurred by the officers. All funds have been covered by expense receipts or have been paid back to the company with the exception of $11,940 which is still outstanding. This was disclosed in the company's audited financials dated April 30 1997, as well as the quarterly reports. As the transactions were cash advances rather than non-interest bearing loans, the company did not seek prior approval of the exchange for these dealings. The company admits to improper categorization in this instance. The company had not been notified of the exchange's concern regarding trading in the company's shares until January 13 1998 after the exchange had been advised of the company's voluntary delisting request. The company does not understand what the exchange means by misleading appearance of market activity and artificial prices created by individuals associated with the company. The company fails to see who benefited from this trading as the stock had traded consistently downward since the exchange failed to approve a financing the company had announced in its June 9 1997 news release. It was in anticipation of positive results from the recently completed drill program at the company's LAK Ranch project that the share price started reacting positively when the stock was abruptly halted. It should be noted that the value of the shares at the time of the halt was below their value of six months prior. It is important to note that the project at this time was more advanced than six months ago. In response to the exchange's view that the directors of the company are not acceptable as directors or officers of any exchange listed companies, the exchange has not provided the company with the following: Under what provision of policy No. 25 are the directors unacceptable; How the relationship of the directors of the company relate to their directorships in unrelated companies; How long the unacceptability of the directors is in effect, and what is necessary to have the unacceptability lifted; If there has been any allegations of dishonesty relating to the directors; and Why the VSE had not allowed the directors to defend themselves against losing their livelihood before being judged unacceptable. The company fails to see how the public interest is being served by the exchange's recent actions. Therefore, the company elected to voluntarily delist from the exchange in order to provide a more positive trading environment for its shareholders in the near future. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com Mr Metals