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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. -- Ignore unavailable to you. Want to Upgrade?

To: Sal Pugliese who wrote (27775)	3/1/1998 8:40:00 PM
From: lloyd bashaw	Read Replies (2) \| Respond to of 28369

It is my understanding that BXMNF is being resurrected as a viable entity.

To: Sal Pugliese who wrote (27775)	3/2/1998 7:44:00 PM
From: d.clarke	Respond to of 28369

BSR Shareholders: The gist of Sal's comment is correct. However, to the best of our knowledge, Bresea only had $27M as of October. By now, given legal and receiver expenses that is probably less than $25M. By the time Price Waterhouse is finished that may be down to $20M. Even so, if Bresea is forced into bankruptcy, at 65M shares outstanding, at best, that comes out to 30 cents per share upon liquidation (not counting the lawyers' cuts). If instead the corporation is maintained as a viable entity the stock price could be worth a multiple of this. For example, compared to a healthy company like Yamana, which had $18M cash and $16M in properties at the end of 1997 and currently is trading at a price of $1.41, there is no reason Bresea's share price could not be in the same ballpark given reasonable management and the current opportunities to acquire proven/producing mineral properties at bargain prices. I personally would rather have the opportunity to get $1.41 per share instead of $.30 per share. Wouldn't you? And if gold ever gets back to $330 an ounce it could be a multiple of this (Yamana has traded as high as $4 over the past year). Respectfully, Don Clarke BSR Group of Shareholders General Delivery Atikameg, Alberta T0G 0C0 CANADA E-Mail (dclark1@telusplanet.net) Fax: (403) 767-3933