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Gold/Mining/Energy : Caldara's Diamond CDR,M -- Ignore unavailable to you. Want to Upgrade?

To: Flip who wrote (188)	4/13/1998 7:10:00 PM
From: jason shepherd	Respond to of 303

Hi Flip, Regarding your questions about due diligence, first of all in your text, you ask about a juniors due dilly.As the situation is with Caldera We are dealing with a major mining group, that beng Astro. The terms of their due diligence are laid out in the news release dated December 1997. As far as Austaralian listed companies releasing news, My understanding is that most only release material changes every quarter. They tend to publish it along with the quarterly report. Now, This doesnt necessarily mean that we will only hear from Astro every quarter.Astro would be in an agreement with a Canadian listed company which is complying with Canadian listing requirements and disclosure regulations. This means that if there is a material change in the company or its developments (Caldera), we are bound to publish news. Now, there is one thing that tends to happen with juniors dealing with majors. This is the fact that the major can keep its information very "close to chest". During a period of Due Diligence, Majors tend to keep very hush hush about development matters. Nobody wants any leaks of information. This is very understandable. In a situation like ours, potentially 17 million dollars of exploration is on the line. Maybe the fact of the matter is that they are seeing something even bigger than they first anticipated.!!?? Regardless, the fact of the matter is that Astro has completed a great deal of their initial assessment.We will have a Corporate update on Wednesday or Thursday of this week. I am confident that the information contained in that release will settle peoples concerns of what has been happening since we first announced the letter of intent. In closing, We are confident in the quality and high potential of the Abminga Project and have stood by this since day one. The discoveries that we have unearthed so far,(G9's, G10's, 2 diamonds etc ) only justify our belief to a much greater degree. Astro signing the official joint venture will just be the cream of the cake. I hope this has provided some further insight to the bigger picture in which we envision. Sincerely, Jason