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Gold/Mining/Energy : amcan minerals -- Ignore unavailable to you. Want to Upgrade?

To: paulo who wrote (64)	7/30/1998 5:32:00 PM
From: Diamonds Are Forever	Read Replies (1) \| Respond to of 71

Press Release dated July30 Mr John Anthony reports The completion of the acquistion of Oriole Mining has been extended until Aug 31, 1998. There has been, which is not unusual, an overrun of time and money to complete construction of the equipment needed for operations in Angola. The current rebel activity in Angola is limited to some disaffected former UNITA troups and small renegade gangs roaming the countryside in the diamond area of the Northern Province. Their principal motivation is to attack soft targets for food and money. The government of Angola is in the process of mounting the necessary forces to eradicate these factions, once and for all. Unfortunately, the press has made a great deal more of this than actually exists. There is no question whatsoever of the democratically elected government being threatened by these incidents and press talk of Angola being about to explode is entirely inaccurate and incorrect. None of Oriole's properties are at any risk. Equipment has already begun to be moved on to the site of the concession where Oriole is commencing mining operations in Lunda Sul. The site is entirely peaceful and no security risks exists. The fact is that Angola and in particular Luanda are booming and the company is moving as quickly as possible to get the balance of heavy equipment into the country, and to become operational in Lunda Norte. I have been waiting for the first piece of news to come out of the company because my guess is much more is coming (possibly in a wave to revalue the stock price at a more appropriate level based on their current land holdings and future land holdings from Oriole and Armsec). Things that could come out sometime are 1) Armsec aquistion - per their March financials, the company is in the process of completing the acquistion of the shares of Armsec International Limited of Sierra Leone, excluding liabilities, subject to regulatory approval. 2) Pipe #3 - per their March financials, the rightful owner of the leaseing rights to this kimberlite pipe are still under review by the SL government. This pipe is in the top 10 kimberlite pipes in the world in regards to propable reserves and could be in the top three in regards to value because of the quality of SL diamonds. The mining policy was announced recently and one must figure property rights will be announced sometime in the near future. I sure hope AmCan gets rights to Pipe #3 - this would be HUGE. 3) Per interview with Bronson Conrad in February 1998, a JV was being discussed with a major player who would finance costs for portion of revenues. This is still in the works. Enough for now. Accumulate, Accumulate. I can not wait till volume increases to 100,000 shares a day and 50 trades a day. This will be a good indicator that the time has arrived.