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Gold/Mining/Energy : Sun River Mining (SUNR) -- Ignore unavailable to you. Want to Upgrade?

To: Jon Matz who wrote (748)	4/12/1999 10:56:00 PM
From: CIMA	Read Replies (1) \| Respond to of 1650

Sorry Jon, never intended to have you feel left out. Re the Aluvion dredging operation, my understanding is that the barges are still floating on the river. However, the terms of the agreement are not economically favorable for SUNR from what I hear. For the dollars required it is felt by many that there are better places to put the money. Re Challana, it has a very rich venero. The data shown from earlier assays are legitimate. However, the company has apparently recently discovered that the adit hits a fault and the assayed venero is lost which makes the project risky. In addition, the dollars required are front-end loaded before production takes place rather than payable as production occurs which makes those terms less than favorable for SUNR. Rumor has it that a hardrock property ready for production with equipment onsite is in the final stages of being acquired. The financial terms are apparently favorable and the project should create decent cashflow for the company. I can't speak for the company and the above is info that I've heard through the grapevine. I can't attest to its accuracy but to this point I assume it to be true.