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

To: Chad Barrett who wrote (282)	11/10/1998 3:51:00 PM
From: the Chief	Read Replies (1) \| Respond to of 1996

Royal Oaks property was a property that they recieved from Geddes on amalgamation.When the BC Gov announced that the Tatshenshini-Alsek region was to be a Class A provincial park Peggy Witte and Crew lost Windy Craggy which had 297,000,000 tonnes grading 1.40% copper,.069% cobalt, .2g/t AU and 3.83 g/t silver. The settlement also included land, tax advantages and money! There was also mention of another company getting over 7 million as a settlement. Once again, do we know how much property they held? How much exploration had they done on their property? It wasn't large nor developed however the assessed value was reportedly $3,500,000 Rocks property had mineshafts rail runs, ore cars etc. The infrastructure was acceptable to consider it functional assuming the resource could be expanded. They had proven reserves and had a highly prospective piece of property. The property was assessed as was the $3.5mm property! Rocks assessment by indepandants was $15,000,000+ (original value was $21,000,000) There was also mention of another company getting over 7 million as a settlement. Once again, do we know how much property they held? How much exploration had they done on their property? They had done no work on the property! The size of the property is not the issue...really! If the property was 6,000,000 acres and was considered a dud, it wouldn't be comparable to 50 acres of highly mineralized property!! Finally, how does the Rock's expropriated property compare to these previous 2 settlements? My guess would be that they are in a similar situation to the company that got 7+ million. However, they have been waiting longer, and it is possible that they had invested more into their property, or that they had more property taken away than the other company? That would seem to justify a larger settlement.... ? It compares very favourably. Some consider that it is a better bet than the property that got 7 million! Again its the assessment and in Rocks case...the damage it did to the company! This was Rocks only asset at the time! It killed the stock and the company!! BC will have to pay for the hardships and the loss in many other ways!! Just consider what the impact was to try to raise money for a stock that had no assets!! They had to raise funds to buy Chile's Coiron property, why? because they lost Amber!! It'll be interesting! Without knowing the facts about the previous properties that the BC gov. has already payed compensation for, it is hard to know how the Rock stacks up. However, it does look good for them to get a considerable chunk of change! That 7+ million settlement does seem to be the worst case scenario.... I think Rock has a very good chance! I agree the $7mm is likely the worse case scenario!! These are the facts as I understand them! the Chief