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Gold/Mining/Energy : CRL,100% growth, EPS of .04 6months .39 stock -- Ignore unavailable to you. Want to Upgrade?

To: M. Merriam who wrote (79)	5/15/1999 12:29:00 PM
From: Ciao	Respond to of 177

Mike, CRL knew they had good news coming. They could have had the pp at a much lower price, ie. .60 or so. It is still difficult to raise capital in the junior markets and raising $4M is no small feat. It is a vote of confidence for management and the company's future for those who are investing a sizeable amount of capital. The stock is being placed with people with deep pockets. Hey us little guys got in at .40 - .60 a discount.

To: M. Merriam who wrote (79)	5/16/1999 11:10:00 AM
From: Murray Nightingale	Respond to of 177

I think the share offering price is fair. The It is not an opprtunity to offer cheap shares to friends. The stock only moved from 1.00 to 1.20 in the last week so the share price of the offering is approporiate. The company needs cash for expansion and to build their 4th unit. In share offerings of small companies there are always more risks then say an offering for shell Canada or Bombardier so there has to be an incentive. Selling shares at this price is the incentive( together with the warrants).