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Gold/Mining/Energy : Int'l Pursuit (T.IPJ) -- Ignore unavailable to you. Want to Upgrade?

To: Jon Matz who wrote (609)	3/8/1998 12:27:00 PM
From: Ron Everest	Read Replies (1) \| Respond to of 835

If one believes that this can be vended for US$15 mm and the 40% carried interest might be vended for US75 mm: US 90mm = C$127 Shares os = 29.097 mm On the surface value for Hinoba-an = C$4.36 (does not take into account potential dilution) Options os at approx C$5 - 5.05 = 3.250 mm Diluted (if I have taken into account all options etc) = C$3.92 This is just if the Hinoba-an closes. There are the other properties, investments and cash. We will see a large spike when the CU deal closes (if it does). CU prices have strengthened in last 3 weeks from US72 cents to 78 - 80 cents. Sovereign risk is present. Best regards, Ron E