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Gold/Mining/Energy : Peruvian Gold Ltd. PVO -- Ignore unavailable to you. Want to Upgrade?

To: Elizabeth Andrews who wrote (515)	4/7/1998 12:36:00 AM
From: Robert Dydo	Read Replies (1) \| Respond to of 892

Mill producing concentrate based on last news release: "All of the existing mining and "milling" equipment is outdated and will need to be upgraded." So the production is in near? 1. Prove the deposit-upgrade and expend. 2. Positive feasibility. 3. Rest of the money spend on above, equipment 4. Probably debt financing. I don't know if anyone read the circular but at most it will be 62M shares if warrants would be included and Chairman of the company?....Mr.Frank Timis. Mr. Hendstrige will become a vice-president. Hole is good but I would wait for at least another 30 holes to expect a movement. Program calls for 30,000m of drilling so with average depth of 300m-400m we could see as many as 100 holes. This is still speculative stock so they better fix their rig and get at least another two or three,judging by the release that hole had to be drilled in January so time is not what Gabriel was concerned in the past. They have also said that conclusion of this drilling will be known by June. It does not look realistic with the 3month period and one hole reported to finish the program in three months. Of course this is what we are being told at the moment. Robert