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Gold/Mining/Energy : Waseco Resources Inc. -- Ignore unavailable to you. Want to Upgrade?

To: CIMA who wrote (39)	1/28/1998 7:29:00 AM
From: DRT	Read Replies (2) \| Respond to of 60

Just two comments: 1. Don't underestimate Mike Bird - on the ground in Indonesia - his knowledge, contacts and experience is Waseco's second biggest asset (its properties being the first). 2. The mining sector has taken a big hit (due to declining commodity prices, scams, unrealiztic expectations to start with, Asian currency crisis, etc). Once Tewah gets the go ahead, the number one challenge for management will be financing. If the existing management do not pursue and secure financing in a timely manner, obviously changes will be required. From the crystal ball/wishing well, I personally would like to see the following in 98: 1. Teewah procede (debt financing, JV, share dilution or some combination thereof). 2. Use working capital $ from 1. or a second JV to drill other properties (i.e. Tikkakur). 3. Add properties from the Bresea/Bre-X fallout. Indonesia still has great potential - issuing of 7th generation cows will create a flurry of activity and investor interest again. All mere speculation on my part! One step at a time - Tewah approval is the first step. DRT