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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough! -- Ignore unavailable to you. Want to Upgrade?

To: BUDDY MOYNIHAN who wrote (1940)	6/9/1998 10:17:00 AM
From: Ron Waller	Read Replies (1) \| Respond to of 5206

Buddy: When do we get some of our cash back from Pan Asia PAR ??? How soon can we add to our coffers? We could sure use some cash back from the previous managments China Diamond Fiasco. TIA, Ron.

To: BUDDY MOYNIHAN who wrote (1940)	6/9/1998 10:45:00 PM
From: Luke12_15	Read Replies (4) \| Respond to of 5206

Hi Buddy and all. I was wondering if anyone else has received their copy of the notice of the AGM and the auditors report???????? The auditors report doesn't paint a pretty picture. I have a few questions maybe someone could answer. What the heck is the molanosa project?? It seems to be the only property KRT has secured. The report says the company has to spend 1.5 million total on clearwater before september 18 1998 to earn a 50% interest. It looks like they have spent that much but i'm no accountant so i cant be sure what i'm reading. If they haven't then it could be by-by clearwater? KRT is committed to fund a max of 8.5 million on a priority basis during the feasibility and development stage. Monopros has a similar liability up to 6.38 million. What happens if KRT has to default on this?? to date they have only spent $3,644,241.00 RE: the china diamond project. KRT's 1.233,359 million dollar loan has turned into around 200,000 dollars of stock if KRT could sell it. Thats bad. The Auditors express serious doubt as to the ability of the company to continue as a going concern.!!??? Whoa. wait a minute what the hell is this???????? It goes on to say that for the company to continue it must complete the financing and then go on to find lots of high quality diamonds yada yada yada. So how goes the financing??? I know I know its done somewhat but not enough. Its my understanding that KRT is still short of money. Anyone care to comment and enlighten us all J steve J