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

To: Surething who wrote (576)	2/7/1998 8:31:00 PM
From: VAUGHN	Read Replies (1) \| Respond to of 1030

Hello Surething Their NR seems to leave exploration on Royce & Discovery in limbo pending resolution of one or more of a number of issues. While I don't think exploration on Discovery is necessary right away, they would be terribly short sighted in not pursuing Royce. There is a narrow window that the market gives diamond plays its full attention and that window tends to close after April regardless of pipe accessibility. Was I mistaken, or did not Mr. Senn confirm a $5 million budget for Royce exploration? Where has that gone? Did GMD intend to include Royce in this exploration cancellation or just its other properties? Clarification please GMD as this will hurt your share price more than anything in the short run! If Discovery's resource assessement is conducted by a well respected firm, doesn't contain bull s...t and assigns a figure of 1.6 or better to "proven" and 3+ to probable, then the share price will hold up in the long run. A farm out or JV will be disappointing on Royce as it will dilute shareholder equity in the only bluesky GMD has right now. While it lends the play credibility, a pipe intersection will do as good a job or better and the farm won't be sold for a song. A farm out, sale or JV on Discovery would be good news, lending legs to the shares and legitimacy to the company when it desperately needs it. Don't give away Royce! Regards Regards