To: Robert F who wrote (4080 ) 8/6/1998 9:44:00 PM From: Gabe Heti Respond to of 4718
John's suggestions: "For what it's worth" is right. It's not worth much. My comments on his suggestions follows: 1. take less holidays ........ From what I have seen, there is constant work going on. - Sale of Rappa - Drilling in Indonesia - Feasibility study in Indonesia - Cow approval in principal in Indonesia - 2 drill programs in Toodoggone in BC since spring - deal with Steppe - deal in the works for an industrial mineral If they can do the above and take holidays, more power to them. I don't really know how many holidays management takes, but I doubt that John does either. 2.. report material changes in a more timely fashion........ - Annual report out and annual meeting held - meetings in Calgary and Vancouver - news releases on Rappa, several on Indonesia and BC, and on Steppe If there are other material changes that have not been reported, I don't know about it. If John does, I too would like to know about it. 3. take less time to understand the drilling results ......... I don't know how you take less time to understand something. Antares is working with AGC and Strathcona to understand these results. The last results came in early July I . Follow up geophysical work took place and the next phase started this week. That's pretty quick response I would say. How quick would John like this to be. If they did not do everything to understand earlier results they could be justifiably be accused of wasting money. I am sure John would accuse them of it, as he does later. 4. revoke the recent authorization to issue more options ........ Authorizing options is standard fare for mining companies. I too suggested at the annual meeting that a minimum price be placed on the option price. That is apparently a highly unusual action and was refused. If Antares succeeds in significantly increasing the share price I don't begrudge them their rewards. Shareholders will then also be rewarded. 5. quit "blowing" money on the next project that may develop into something and - concentrate on the Indonesian property........ - Dennis seems to be running here and there to make deals ......... - why not work with something you have???????????? ie Indonesia ... - I think we both agree that maybe the best bet ......... - I hear Dennis is running around frantically looking for cash flow ... - I guess after blowing 17 million ya gootta do something to maintain the lifestyle,,,,, doubt he can go back to the previous "well" for cash, what do you think????? Well here goes: Either he is on vacation or running around, presumably on company business. Indonesia MAY BE the best bet. I don't know. Does John? What if he is wrong. I guess he sells his 1,000 shares and moves on. Antares can't do that. I wouldn't want Antares to bet everything on Indonesia or any other single property. There seems to be a good mix of projects showing long term promise as well as near term cash flow. I am relatively new to Antares but I believe most of the money went for property acquisition and drilling in Indonesia and B.C. I doubt that Antares would be looking to raise money with the shares at 20 cents. That's precisely the reason to look for early cash flow, so that new funds will not be needed. 6. The new guy should not set his son up for commissions ....... ie the MacDonald's Restaurant deal ........ how much did Paul Gray get on that deal???? No conflict of interest???????????? I think there was a clarification posted on this. If John has information on this why doesn't he state what he knows rather than insinuate something untoward? 7. Compensation based on and linked to company performance as measured by NET profit or share price, or expense reduction or possibly a combination of the three. All of those factors will be reflected in the share price and financial rewards will follow through stock options. I understand that management's base salaries are pretty meagre. 8. Get to the business of finding some funding as they will need it within the next 12 to 18 months ........ In point 5 John complains about Dennis running around looking for money. Should he or shouldn't he? Maybe Dennis knows better than John. 9. Get the word out in a reasonable fashion re the potential of the property and make it honest ......... Is John suggesting they are not being honest? Please provide example. 10. fire Peter Southward ........... Is that for putting out too much information or not enough? This post is less libellous than some others, but just as illogical and wrong as fall his other posts. Gabe