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Gold/Mining/Energy : Armada Gold 10 Million oz of Gold & 1 billion lb of Cu ! -- Ignore unavailable to you. Want to Upgrade?

To: Angelo who wrote (521)	3/21/1999 2:26:00 PM
From: Syncrude	Respond to of 552

Since trading off the Company's (shareholders) best chances of survival and choosing instead to cover management salaries for the next year or so (by selling the copper project), Armada has declined to communicate with shareholders. I would not expect anything positive to come out of this company. They have a huge number of shares outstanding and the remaining cash is going to be used for management salaries. I would expect that at some point they will also trade away the remaining gold properties for a small cash amount. They have burned all remaining bridges with the institutions who bought into the share issues in the past.