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Gold/Mining/Energy : GMD RESOURCE -- Ignore unavailable to you. Want to Upgrade?

To: lloyd lush who wrote (546)	1/30/1998 3:25:00 AM
From: Cal Powers	Respond to of 1030

Wow, sure is a lot of doom and gloom lately on this thread. I think it was a very strategic move by the VSE to move quickly to address the GMD issue. I heard that it might have been the GMD audit committee itself that first brought this to the attention of the VSE, which in itself, is a positive sign. The VSE forced the clean-up of the board as a result-there were 1-2 sacrificial lambs along with Farrell. As a director, whether you are innocent not, you are still accountable to fulfil fiduciary duties to the shareholders. Farrell had to go, and if other directors had a hand in that process then we should be thankful that the process works for a change. IMO, the company projects are still good prospects for 1998. Cleaning up the GMD board early in 1998 instead of in March or April will allow the new board and management more time to rebuild shareholder confidence, and initiate the scheduled exploration programs. The notion that Farrell is a 'crook' or 'embezzler' is best left for the authorities to determine in the course of their company review. Cal