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Gold/Mining/Energy : Phoenix Gold Resources (V.PHO) -- Ignore unavailable to you. Want to Upgrade?

To: Baba 2 who wrote (233)	6/4/1998 12:29:00 AM
From: JCNelson	Read Replies (1) \| Respond to of 285

I wrote to Phoenix Gold today and for you all that are interested this was RMatthews reply. The well situation is still slowing things up at this time but will soon be resolved. Currently we are processing ore on a limited basis using water trucked in by a small tanker.Some of the equipment is still being "fine-tuned" as well. It is difficult to precisely time this project because it is essentially a "pilot plant"which means it is gathering of equipment and ideas all brought together to test the viability of a large operation.We just happen to be using it to generate cash flow.None of the relatively minor delays that we have experienced should be considered worrisome. Our next press release should be out some time soon.We are holding off until we can announce a real material change such as substantial,substained or processing,shipments to smelter,grades,deep drilling programs,etc. We are all exited about a resumption of drilling and as you know it is a high priority.As soon as we establish what and when our returns will be we will begin a drill program. This is what I received word for word,so it looks like they are on the right track. Can't wait for the press report.