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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: Winer who wrote (958)	7/9/1998 10:58:00 AM
From: Roger D	Read Replies (2) \| Respond to of 3380

To those of you who support management... and to Winer: Perhaps my "bet" is without foundation, but I feel all Shareholders should question why Management hasn't answered the Concerned Stakeholder Groups's allegations. What possible motive is their in remaining silent? Until now, news releases are about the only way Management can argue its position to shareholders. The meeting is only two weeks away. You should bear in mind that both sides have now mailed proxy information to the shareholders (I've now received sets from both sides). Obviously, Management's make no mention of a proxy fight because there was no fight when their materials were prepared. Therefore, many (if not most) shareholders have only heard the Groups side and until now, they have not heard anything further. With respect to the meeting yesterday, that indicates to me that the Group and their nominees have simply taken a pro-active stance by meeting with their potential future partners now. If the Group prevails, like it or not, Pallum, Globenet and Donner will be dealing with them. While I am not a member of The Concerned Stakeholders Group, I do believe they raise some serious allegations with respect to the way the Company has run its affairs recently. Although I know relatively little about the Group's nominees, they say they can bring $500K of financing to complete the 1998 field program, something management has been unable or unwilling to do. I don't know about you all, but I find it hard to want to keep current management in place given some of the things they are alleged to have done by the Group. If Management cannot or will not defend themselves, how are they going to convince anyone not to vote for the Group's nominees. Some of you have said that Management does not have to address all of the Group's assertions. Even if this is so, Management should have at least responded to the Group's news in a timely manner if for no other reason than to dismiss or deny the allegations. Finally, after a week and a half since the proxy fight started, Management appears only to have made one comment publicly (which I picked up from SEDAR this morning... although it was cut out of the Stockwatch version of yesterdays news release posted here earlier): "Management of Labrador International Mining Ltd. takes vigorous exception to information being circulated by the "Concerned Stakeholders of Labrador International Mining Ltd.", and will be circulating an official rebuttal to the aforementioned circular and proposed alternate slate of directors." It took them a week and a half to come out with THAT. COME ON!! They could have said that last Monday (June 29). "Takes vigorous exception"??? Of course they take "vigorous exception", I would to if someone suggested I should be fired from my job. Notice how they didn't deny anything?? They are only going to provide a rebuttal!!! WHEN????? I'm just an interested shareholder who has invested some of my hard earned money with the Company. The Concerned Stakeholder Group has lead me to believe that, while the share price has tanked (currently around $0.17), Management has used the depressed stock prices to their advantage by repricing outstanding options lower, and cancelling and re-issuing lower priced options to themselves. Check out the Company's news releases for the last year, these assertions appear to be true. If so, I and all other shareholders have every right to be ticked off!!! Stock options are supposed to provide an incentive to Management to improve a Company's value, and reward Management when their efforts cause stock prices to increase, NOT decrease. If the stock merely returns to the old $0.50 level, Management can all exercise their options, and double or even triple their money without any risk and not because of their efforts. Check it out, the Company has over 1,000,000 options outstanding ranging in prices from around $0.17 to $0.24. If the stock returns to the $0.50 level, I, and many other shareholders. will barely recoup our investments. Hardly seems fair. Roger D.