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Gold/Mining/Energy : Royal International Venture RIL.V (was Labrador Int'l LAB) -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (759)	5/6/1998 7:16:00 PM
From: Winer	Read Replies (2) \| Respond to of 3380

John, as per your "I think the market expects some sort of mine now - no mine the stocks of SVB will tank someday - the economics of the stuff in the ground will determine the eventual price of these puppies." I also think that between now and then there will be many peaks and valleys. That is, if the first results this spring/summer are not too good, there will be a selloff. But subsequent to that there will be another speculative rise because everyone is not going to pack up and go home after a few (hypothetical) dud holes. This is far from over no matter what.

To: Buckey who wrote (759)	5/6/1998 8:21:00 PM
From: 1king	Respond to of 3380

John, I believe that it is prudent to release all results "promised" in previous NR's. By saying one is drilling one is "promising" drilling results (good or bad). The PDA and the OSC agree in addition to the JCP on the ASE and the MSE pre-screen though the OTC. I am not familiar with many companies that have announce that a drilling program has commenced and never released any more information! A good recent example is Celtic on their Hungry Hill Project. See their thread for the release. You suggest many never release drilling results if negative. I would appreciate seeing some of these as a personal curiosity. BTW the point the chief was trying to make is obviously lost somewhere in the flurry of posting. You may never see drill results as intervals etc. because negative results are often disguised in verbose geological interpretations. Not that there is anything wrong with that but, it usually evades the general investor. I enjoy writing them myself as I consider it a form of poetry:-) 1King

To: Buckey who wrote (759)	5/6/1998 8:54:00 PM
From: the Chief	Read Replies (1) \| Respond to of 3380

Hi John L. Clarification. Any drill hole dud or not is an expenditure of shareholder equity. If the hole cost $200K to drill then the company must ballance the books and declare duds. To do so "after the fact" is misleading and can be considered a manipulation, which is illegal. ie. 12 holes drilled 2 holes "massive sulphide", 10 duds report one "Bottomless lake reports 2 holes drilled to a depth of 300 metres hitting 200 feet of massive sulphides. " By exclusion report one is deceptive and illegal and the SEC would have a field day with the company report two "Bottomless Lake Resources reports 2 holes drilled to a depth of 300 metres, hitting 200 meters of massive sulphides. The remaining 10 drill holes in this program returned valuable information on the anamoly previously addressed in release dated 25 Jun 1831 Better, but thru wordology avoided the word DUDS report three Bottomless Lake Resources reports 2 holes drilled to a depth of 300 metres, hitting 200 meters of massive sulphides. The remainder of the 12 hole drill program returned unsatisfactory values........ The "bottom line is if the duds are not reported how do you know the company is even "doing a drill program"? You said:I do not know one way or another but it seems that I read many NRs of drilling commencing and never see anything again good or bad. All drill hole data is available to ANY shareholder whenever he wants it. ( Unless data is part of a standstill agreement or confidentiality agreement because of "pending takeover or JV") . Most companies don't post drill data in the advanced stages of a discovery. ie. Bema Gold Cerra Casale property. After many holes Bema just reported number of holes drilled and MRD's resource calculation. Hope I've answered all your questions. the Chief