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Gold/Mining/Energy : V.AUU Augusta Metals Inc NEW -- Ignore unavailable to you. Want to Upgrade?

To: David Carlson who wrote (4)	6/2/1999 4:48:00 PM
From: Glenn J. Mullan	Read Replies (1) \| Respond to of 23

Just read my 1999 Annual Report for Augusta Metals Inc. and thought I would share a few items of interest: Richard Warke collects an auto benefit of $12,333 in 1999. What for? There are no roads to Ungava. Add to that $9,517 in 1998 and $12,937 in 1997. Richard Warke received $17,500 in salary paid in 1999. The company paid $30,000 to the "Manager" for doing general administration. Mr. Warke has a "beneficial interest" of 25% in the manager. Add to that the following amounts charged: office and general expenses of $12,445 professional fees $15,999 rent $36,221 salaries and benefits $72,409 travel and promotion $22,866 Throw in some new options granted, escrow stock released, and consider where the money went and why this company is broke. Salaries and benefits of $72,000 - to who and for what when they have no key properties. Rent of $36,000, well we can see the value of a downtown location in our share price and performance. Travel and promotion of $22,000? For what, the PDA and a gold show? And what promotion was accomplished here exactly. Now throw in $30,000 to a company partly owned by the president, tack on an auto benefit of $1000/month and then give yourself $17,500 for salary. Boost up your new options after consolidating the company 10 old shares for 1 new that 10-months before you told everybody would not be consolidated. Think about this when you vote for the shareholders meeeing on June 22nd. I did. GJM the Prospector Vendor of properties to Augusta (nee First Western)