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

To: James N. Wilson who wrote (709)	11/2/1998 8:38:00 PM
From: CLK	Read Replies (1) \| Respond to of 1319

Thanks

To: James N. Wilson who wrote (709)	11/3/1998 8:14:00 AM
From: Winzer	Read Replies (1) \| Respond to of 1319

James, Maybe you can refer CLK and others to the Boston Mining Site, their August 20, Update puts this whole (disgraceful protracted battle) into its proper perspective. i.e. They're holding the shareholders to randsom over a measly 10%. See who they would pick: bostonmining.com The highlight is repeated below; but visit the site for the details. The latest Minefinders PR is also given good reviews. <Start of Message> Exall and Glimmer make the oddest couple. The partners are fighting over a small percentage of a profitable, operating mine. No matter the outcome, investors have an opportunity. If the companies could work out their differences and cooperate, they would make an excellent team. Exall, the operator, and Glimmer jointly own the Glimmer mine in Ontario, which entered commercial production this year. As it stands, GME owns about 40% of the deposit and believes it is the lawful owner of about 51% or so. What the two companies dispute is about a 10% interest in the mine. No matter who looses, this isn't an all or nothing case. The mine has reserves of 400,000 to 500,000 oz. of gold and is being mined at a low cost of $210 per oz. We think Glimmer may become a much larger and profitable mine. We estimate that the mine is worth $15 to $25 million, yet the market has assigned a value of only $3 million for Glimmer and $5 million for Exall. Respectable, capable people manage both companies. Independently, they have significant professional strengths and properties to build their companies, regardless of the outcome of this case. Steven Roman, the president of Exall, has proven himself to be very capable in both exploration and mining. Richard McClosky, president of Glimmer, is a serious professional with many accomplishments to his credit. The ownership dispute should not harm the long-term viability of the mine or the companies. The market has overdone the gloom surrounding the lawsuit and significantly undervalued both their shares. Patient investors should BUY both companies in about equal amounts.