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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough! -- Ignore unavailable to you. Want to Upgrade?

To: BUDDY MOYNIHAN who wrote (956)	1/16/1998 9:54:00 PM
From: Miles	Read Replies (3) \| Respond to of 5206

UPDATE I spoke with someone at KRT office today, I believe it was Terry Kirby, I was on a cell so some of the conversation was not too clear. Anyway, the results are with one of the JV partners and will be sent to KRT's geologist next week. He said it will take approx. 10 days for him to go through all the numbers etc. and put it in a form that can be interpreted more clearly. He was quite open with regards to the rumours that have been buzzing around about a .7car+ stone. Apparently, they are all looking forward to seeing the final numbers so that it can prove or disprove this. I got the impression that some of Luc R evaluation has been made know to them. Apparently, word is that some of the results are better than good. Cam and David S. are going to meet with someone at Debeers new Vancouver office next week, and he also stated that at the same time, they have a meeting with a major institution with regards to financing. A meeting between the partners is set for the first week in Feb. when all the results are put together. At this time, funding will be discussed etc. I believe that there is some question as to whether Cameco will be fully involved, as KRT's stake may increase. Apparently, the mine they opened in Russia is drastically over budget so drilling for diamonds is not a priority for them. He did express a lot of excitement about Debeers opening an office in Vancouver, as it may give KRT some more exposure. As far as a time-table goes, I interpret this as drill results not until the middle of Feb., followed by an annoucement about financing. I for one can't wait, it will be interesting to see the evaluation done by Luc R. I personally expect to see some more accumulation over the next few weeks then some nice movement when it comes time for a NR. Just my opinion.