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Gold/Mining/Energy : Bearcat (BEA-C) & Stampede (STF-C) -- Ignore unavailable to you. Want to Upgrade?

To: Jim P who wrote (728)	3/22/1998 9:25:00 PM
From: Keith Minler	Read Replies (2) \| Respond to of 2306

Hey Jim, any particular reason for expecting the rights to be exercised. Assuming the share price remains 20% out of the money? I've been looking long and hard at different scenarios, and it is hard to justify paying a 20m % premium just to acquire the warrants. If the shares were trading a lot higher then sure. At this stage in the game we have to ask ourselves if any price runnup next week is due to confidence about what is in the ground or merely other shareholders getting excited by the hype in the rights circular. You and I can be pretty confident, having followed the play for quite awhile and having all the scouting reports etc... But if the price rise is purely due to hype, we can sit back and pick up shares after April first and before production starts. BTW I think you have until the March 31 to exercise your rights provided your share and rights certificates are at your brokers. They would execute the order just like a regular share purchase. If you have them in your possession you have to fill out the forms and get them to the transfer agent by the March 31, which with snail mail probably means you would have to make your decision by Friday. You would also have to have made your decision as to whether or not you wished to oversubscribe. If I get a chance I'm going to check that out again with my broker, you might like to do the same. I'd hate to be wrong about that. Later Keith