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Gold/Mining/Energy : Montello Resources -- Ignore unavailable to you. Want to Upgrade?

To: FRANK KENDRICK who wrote (2317)	8/20/1998 6:10:00 PM
From: JP	Read Replies (1) \| Respond to of 4256

Just talked to Pat at MEO 1) JV Agreement -legal version - should get signed middle of next week timeframe. 2) Kennecott has drill permits and has drill company lined up -simply waiting for fires to be put out. Reason is that they are afraid their helicopter may get pressed into service for the forestry dept. This would leave Kennecott unable to move drill -and would be very costly. 3) They are going to get water locally for drilling -longest pipeline is in the 800 meter range. 4) They are going straight down into targets and if they hit kim they will sink an angle hole to delineate. 5) Pat says that if Kennecott hits kim -that is material information and will have to be passed to MEO. This is as per contract. Therefore there should be no secrets. JP