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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: PaulM who wrote (8756)	3/23/1998 9:55:00 PM
From: Alex	Read Replies (1) \| Respond to of 116764

The time for talk from Japan, re:yen, is over.................... MOF says yen too weak, to take appropriate action TOKYO, March 24 (Reuters) - The yen is a little too weak and Japan's Finance Ministry will take appropriate action, the director-general of the ministry's International Finance Bureau, Haruhiko Kuroda, told reporters on Tuesday. ''As we have been saying, the yen is a little too weak and we will take appropriate action,'' Kuroda said, adding: ''We would prefer the yen to be a little stronger.''

To: PaulM who wrote (8756)	3/24/1998 5:50:00 AM
From: Bobby Yellin	Respond to of 116764

----------------------------- WHY A 20% REBOUND IN GOLD IS NOW LIKELY IN 1998 "......THE GOLD PRICE SHOULD RETRACE ITS DECLINE OF 1996 /97, POSSIBLY OVER A TIME FRAME OF SIMILAR DURATION." - FRANK VENEROSO ON TUESDAY MARCH 24th , MR. FRANK VENEROSO , NOTED GOLD/SILVER RESEARCH SPECIALIST AND INVESTMENT STRATEGIST ,WILL PROVIDE AN UPDATE ON THE PRECIOUS METALS VIA A CANARC HOSTED CONFERENCE CALL. LAST DECEMBER, MR. VENEROSO STATED IN THE FIRST CANARC / VENEROSO CONFERENCE CALL THAT "MAD DOG SELLING" BY CENTRAL BANKS WAS LARGELY RESPONSIBLE FOR THE 18 YEAR LOW IN THE PRICE OF GOLD. HE ALSO PREDICTED A "SLINGSHOT REBOUND" IN GOLD ONCE THAT SELLING ABATED IN 1998. WITH THE ANNOUNCEMENT LAST WEEK BY THE BELGIAN CENTRAL BANK THAT IT HAS NOW COMPLETED A 300 TONNE GOLD SALE, IT WOULD APPEAR THAT REBOUND IS NOW CLOSER TO HAPPENING. THE CONFERENCE CALL WILL COMMENCE AT 1: 40 PM , PST. ("DIAL-IN" AT 1: 30 PST FIRST COME FIRST SERVE BASIS ) TO ACCESS THIS CONFERENCE CALL AND PARTICIPATE IN A QUESTION AND ANSWER SESSION WITH MR. VENEROSO PLEASE DIAL THE FIRST NUMBER PROVIDED BELOW AND THEN PRESS THE ACCESS CODE. ( USE ALTERNATE NUMBERS IF BUSY ) 1) 1-604-517-3400 ACCESS CODE - 5754 2) 1-604-527-9450 3) 1-604-527-9451 4) 1-604-527-9452 5) 1-604-527-6453 6) 1-604-527-6454 YOUR QUESTIONS AND COMMENTS WILL BE APPRECIATED ONCE MR. VENEROSO HAS COMPLETED HIS SPEECH. SHAREHOLDER UPDATE B.C. Government Approval of Redfern's Tulsequah Chief Mine Permit is Good News for Canarc's New Polaris Project Last Thursday, the Government of British Columbia announced the approval of Redfern Resources' application to build the Tulsequah Chief Mine in northwestern B.C. Redfern's project approval includes a $150 million, 2,500 tpd mine and mill and a 120 km road linking the minesite to the B.C. Highway network at Atlin, B.C. This is very good news for Canarc because our New Polaris is located immediately adjacent to Redfern's Tulsequah Chief project. We can now model road access within 3 km of our minesite, which should have a dramatic positive impact on the project economics and how Canarc develops the New Polaris gold mine. Our focus has now turned from constructing all on-site facilities to producing gold concentrates and transporting them offsite for final processing into dor‚ gold bars. Not only would this option remove any use of cyanide onsite, our preliminary cash flow models generate an attractive rate of return at $325 gold. Management believes that concerns about permitting in B.C., and the "B.C. discount" on mining projects like New Polaris, should now fall away as the Province takes a more proactive approach to new mine developments. A more complete analysis of the New Polaris mine development, plus an update on Canarc's exploration activities worldwide, should be available by April. In the meantime, feel free to call me if you have any questions or comments. Sincerely, CANARC RESOURCE CORP. Bradford J. Cooke President P.S. Did you know that Canarc is one of very few junior resource companies whose working capital has risen since year-end? Our cash position is approximately $1 million and we expect to maintain or increase that amount in the near term.