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Gold/Mining/Energy : Trump's 12 Diamond Picks, Discussions Limited -- Ignore unavailable to you. Want to Upgrade?

To: VAUGHN who wrote (1512)	10/29/1998 12:12:00 PM
From: VAUGHN	Read Replies (1) \| Respond to of 2251

Hello Donkeyman From this mornings Morning Coffee: *********** Major General Resources (MGJ : VSE : $0.30) Ascot Resources (AOT : VSE : $0.33) Major General Recommendation: No opinion 52-week price range: $0.61-$0.20 Shares O/S: basic 35.5M Long-term debt: nil Market capitalization: $10.7M Ascot Recommendation: No opinion 52-week price range: $1.03-$0.09 Shares O/S: basic 17.8M Long-term debt: nil Market capitalization: $5.9M Further to our Daily Letter comment of Oct. 8/98 on the Monopros (De Beers) - Major General - Ascot Resources diamond exploration project on Victoria Island in the NWT, yesterday, Major General/Ascot reported the caustic fusion results from the last kimberlite, known as the Snowy Owl. Some 75 stones were recovered from 80 kg of sample for a count of 9.4 stones per 10 kg, which would be the best of the five kimberlites discovered this year by Monopros. This sample was taken, with some difficulty, with a reverse circulation drill under a shallow lake, and this short hole penetrated only 12 m of kimberlite. It is thought that the stones may be less than 1 mm in the longest dimension, but further details are yet to come from De Beers' South African laboratory. The results from the Whimbrel, Phalarope, Longspur, Golden Plover, and particularly the Snowy Owl kimberlites are geologically interesting in being "diamondiferous" and in a cluster 2-7 km from the Monopros property boundary. Monopros has "several" diamondiferous kimberlites, but no details are available. As the project area is in the south-central portion of Victoria Island, which lies north of the Coronation Gulf, the exploration season does not get underway again until late spring (here in the south), and we would be thinking of repositioning at some point in the interim in the two juniors, but stay tuned and we will try to refine the timing. David James (204) 988-9602

To: VAUGHN who wrote (1512)	10/29/1998 12:55:00 PM
From: Rocky510	Read Replies (1) \| Respond to of 2251

Hi Vaughn, It's unusual for you to make comments without checking things out. You wrote: <<Fankly I am skeptical. The NR states that the information was supplied verbally from an incomplete processing and did not indicate the size of the diamonds. They could be microscopic for all you could tell from this release. There was no reference to micro/macro.>> A preliminary verbal report is not unusual. If you read the former releases you will see it has been done before, ie. the Oct 6 release at URL: majorgeneral.com The diamonds would not be microscopic or Debeers would have said so. As to micros/macros the news release states: "The final lab analyses, which are expected in the coming weeks, will have details on the size and weight of the diamonds...". Let's give the lab a chance to analyze them. Nevertheless there likely were no real large ones or again Debeers would have said so. As to your comment: <<That would seem to be a major procedural change for DBs to release news in that manner. This is not a company that makes policy changes quickly or radically.>> It was not a Debeers news release (not being material to Debeers) and therefor no change in their policy. Nevertheless the company assures me that Debeers must approve these news releases. By the way the Company expects to have two or three more holes drilled at Voisey Bay south this fall. Best of luck to all. Jimmy