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Gold/Mining/Energy : Yamana Resources INC. T- YRI -- Ignore unavailable to you. Want to Upgrade?

To: G who wrote (981)	2/28/1998 5:19:00 PM
From: Greg W. Taylor	Read Replies (1) \| Respond to of 2346

G: We really are "on hold" concerning Indonesia, first and foremost due to the uncertainties in that country. Things could turn around in a month or two, or it could take loner, perhaps a year. Because we have several established drill targets, as well as the other areas "demanding" further examination, I'd say we (and Barrick) have a good idea of what needs to be done next. Therefore, we could ramp up reasonably quickly. I'd add, though, that, as I've said before, operating there requires a lot of dealing with beaurocratic redtape. For example, last time it took us 8 or 10 months to get clearance to get our helicopter in country AND we had to make a 12 month commitment on the chopper. (There were a couple of other factors beyond the regulatory issues that caused the lag but you get the idea.) Therefore, from getting the go-ahead to getting assays would likely take (xx) months. Meanwhile, we have a number of options for funding that project, although I can't really discuss what they are. To get back to the value of our project, I would cite Bre-X (yes, this might represent a brain cramp on my part): WHEN someone CREDIBLE finds the next serious deposit on Kalimantan, the whole area will (cautiously) be reevaluated by the market. Which takes us back to the first issue: when, in the eyes of the market, Indonesia becomes (relatively) stabalized politically and economically, then the blinders will be ready to come off on the geologic potential there. That's a key reason we've not "dumped" there.... let alone the specific geologic targets we KNOW we have. From my point-of-view, you like Indonesia not because we have it, but because it's something ELSE we have. I hope this helps. Greg