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Gold/Mining/Energy : MARUM RESOURCES ON ALBERTA -- Ignore unavailable to you. Want to Upgrade?

To: JP who wrote (1615)	4/20/1999 9:02:00 PM
From: Leigh McBain	Respond to of 2514

JP - I was not referring to the $600K in technical data. My reference was focused on the following excerpt: Marum shall have the option to earn an additional 25% interest, for a total of a 50% interest, by making exploration expenditures of $1,000,000 no later than December 31, 2000. Marum shall pay Micrex $300,000 upon exercising the option to acquire the second 25% interest in the property. Although I realize that these are expenditures to be made over the next 18 months, there is also the issue of the vend-out. Marum does NOT have the option of funding this work thru vending out parts of their interest. Therefor we are talking about a company who is planning on having some sort of funding available, that is not there currently. Micrex is NOT interested in having 5 or 6 partners in the project and had that clause in the agreement is there for just that reason. As for the raising of capital, that has been an issue over the past while for Marum, partially given where the stock has been at etc. The only reason for the stock to be significantly higher is if they have found something of interest. In addition they will not be expending $1M in 3 weeks at the end of the year, this will be an ongoing project and will require ready cash. Just my perspective on things. Salut, Leigh McBain