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Gold/Mining/Energy : Northern Abitibi Mining (NAI-ASE) -- Ignore unavailable to you. Want to Upgrade?

To: VAUGHN who wrote (272)	2/23/1998 7:30:00 PM
From: wayne cath	Respond to of 773

Hi Vaughn ..Its good to hear from you ...you've been quiet lately Yes, I did receive my package and yes I do have some concerns about Glen Harpers' involvement ,however I am not familiar enough with this business to know how these "arrangements" work. I suspect that many shareholders feel the biggest issue is the extent of the dilution....all else takes a bit of a back seat. I wonder what NAI would be trading at if not for the Mr. Harper/NAI connection. I think we both agree NAI will and should trade at a premium to DML and its' unfortunate but the reality is that Glen Harpers' name carries a stigma that will keep a great many shareholders away from what will surely be the hottest play of 1998. thanks for the info...wayne edit ..just a little tidbit in the following post you might find interesting

To: VAUGHN who wrote (272)	2/23/1998 7:32:00 PM
From: wayne cath	Read Replies (1) \| Respond to of 773

Post says no gold in Ghana but chief strikes paydirt Golden Rule Resources Ltd GNU Shares issued 26,654,081 Feb 19 close $0.97 Fri 20 Feb 98 In the News Also Hixon Gold Resources Inc (HXG) The Financial Post reports in its Friday, February 20, edition that contrary to glowing reports by Golden Rule Resources early last year, there was no gold in Ghana, nonetheless, president Glen Harper did quite well, new documents show. The Post's Peter Kuitenbrouwer writes that Mr Harper netted almost $840,000 in salary, compensation and by exercising options last year from the company and its subsidiaries even as its stock went bust. A management proxy circular filed before the company's annual meeting in March shows Mr Harper earned $588,800 by exercising 184,000 Golden Rule shares last year. He also received a salary of $92,400, up 60 per cent from $58,400 the year before, and $125,000 "in his capacity as a consultant or expert" through Golden Rule consultants Hardscrabble Resources. Then there's $33,000 for his work as president of three subsidiaries. Last year when the shares were collapsing Mr Harper told analysts, "I'm eating my own cooking," referring to his large holdings in the company. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

To: VAUGHN who wrote (272)	2/23/1998 10:42:00 PM
From: Ed Pakstas	Read Replies (2) \| Respond to of 773

May be of interest to all: Class action suit filed for violationsÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Golden Rule Resources Ltdÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ GNU Shares issued 26,654,081ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ Feb 23 close $0.95 Mon 23 Feb 98ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ News Release Mr Robert Roseman reports A securities class action has been commenced in the US Districtÿ Courtÿ for theÿ Easternÿ District of Pennsylvania on behalf of those who purchased the common stock of Golden Rule Resources duringÿ theÿ periodÿ Octoberÿ 3ÿ 1996 through May 14 1997 (class period). Golden Rule, directly and through its subsidiariesÿ whichÿ itÿ ownsÿ and/or controls,ÿ isÿ engaged in the exploration and development of precious metal properties in the US, Canada, Venezuela, and Ghana, West Africa. The company operates exploration programs for its own account and on behalf ofÿ itsÿ jointÿ ventureÿ partners,ÿ itsÿ subsidiaries, affiliates and other clients on a contractual and consulting basis. The complaint alleges that during the class period, Golden Rule, its senior executives, and the senior executives of related parties, violated sections 10 (b) and 20 (a) ofÿ theÿ Securitiesÿ Exchangeÿ Actÿ ofÿ 1934ÿ byÿ issuing materiallyÿ falseÿ andÿ misleadingÿ statementsÿ relatingÿ toÿ Golden Rule's business operations. Specifically, theÿ complaintÿ allegesÿ inÿ substanceÿ thatÿ theÿ defendants misrepresented both the quantity and quality of gold finds in Golden Rule's mining operations in Ghana, whichÿ wereÿ conductedÿ throughÿ theÿ company's Hixon Gold Resources subsidiary. The complaint further alleges that the defendantsÿ madeÿ andÿ causedÿ these materiallyÿ falseÿ andÿ misleadingÿ statementsÿ toÿ beÿ madeÿ inÿ orderÿ to artificially inflate Golden Rule's stock priceÿ soÿ thatÿ companyÿ insiders could sell their shares of company stock at artificially inflated prices. The complaint further alleges that, when the truth concerningÿ theÿ results ofÿ miningÿ operations was revealed at the close of the class period on May 15 1997, the market price of Golden Rule's common stock, whichÿ hadÿ traded asÿ high as over $13 per share during the class period, plunged to under $3 per share at the close of the class period on May 20ÿ 1997,ÿ andÿ currently trades at approximately $0.75 per share. The plaintiff seeks to recover damagesÿ onÿ behalfÿ ofÿ allÿ purchasersÿ of Goldenÿ Rule common stock during the class period. He is represented by the law firm, Spectorÿ &ÿ Roseman,ÿ PC,ÿ whichÿ hasÿ expertiseÿ inÿ prosecuting investorÿ classÿ actionsÿ and has extensive experience in actions involving financial fraud. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com I got this NR at 10:14 p.m. <est>... I'd say somebody is trying to stay unnoticed...ed