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Gold/Mining/Energy : Cadre Resources (CSL.V) Awaiting production #'s and Financ -- Ignore unavailable to you. Want to Upgrade?

To: Bob Jagow who wrote (492)	5/7/1998 6:47:00 PM
From: Joel W. Grothendick	Read Replies (1) \| Respond to of 1285

Hi Bob, I think you accidently posted to the wrong person to answer your question. However, I did get an e-mail from Rich shortly after his return from the agm. If memory serves, there was nothing earth shattering. The Hanson issue has been resolved and we should be able to move forward now. I heard today that they have a new prospect to finance the work that Teck requires to further their involvement. Again, I'm not holding my breath. Imo, we have a case of a great project that is poorly managed. I will continue to hold until we succeed-with or without present directorship. Regards, Joel

To: Bob Jagow who wrote (492)	5/11/1998 7:41:00 AM
From: Francis R. Biscan Jr.	Read Replies (2) \| Respond to of 1285

>>So how did the meeting go, Rich?<< Hi Bob, The meeting was a non event, for the most part. They have settled the Hanson issue, as most know. ( Subject to exchange approval ) In my opinion, the price was to high, to settle a dispute, that was unjust and from the person who has done the most harm to this company from its inception. The question was, was it worth it to delay things longer, by going through arbitration and then waiting for a decision. Someone will probably say " wasn't this settled last year ". The answer is yes. The flaw in that settlement was that part of the settlement had an obligation, that was left to the other party. Which means, if they did not complete, the settlement was void. This time only Cadre has an obligation, which is to issue shares and deliver them to Hanson. I believe that this legal dispute has been somewhat of a hinderince towards raising money. They have admitted, now that it is behind them, that they have no excuses from here on out. They do have a few interested companies or groups. They are also looking into a brokered private placement. This placement would be open to most, so if anyone is interested, let management know. I believe that they will be trying to raise a minumum of $250.00 U.S. I will consider taking part if we have the involvement of Teck or someone like them. More tests will be run on the titanium sands. The previous tests were extremely positive. These tests will determine wether the concentrate can be run through an already existing plant. ( Each plant is designed specifically for it's concentrates charactoristics ) If it runs favorably, this will be very positive. The overall project concept is still excellent and I still have every dollar I ever invested, still in it. Under the right circumstances, I may add more, but it has been a long haul. Have a good day, Rich