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Gold/Mining/Energy : AVL.V - AVALON VENTURES -- Ignore unavailable to you. Want to Upgrade?

To: RMF who wrote (502)	1/29/1998 7:17:00 AM
From: DRT	Respond to of 1474

This is not a new financing, the company has $2.3 million - enough to at least drill Phase II Big Whopper, initiate the pre-feasibility study, drill Wolf Mountain and then some. This is just a VSE notice of acceptance of the previously announced $1 million flow-through financing with TRIAX (Press release: Dec 24, 1997). A notice of acceptance is required from the VSE on all financings. Remember, the TRIAX financing was at a higher level than what it was trading at the time - given the turmoil the markets were in, it was certainly an indicator that this stock was grossly undervalued. DRT