Hi AllHi All! I'm back for a week and wow could the markets get any worse(looks like the answer is yes).I've talked to Terry several times while I was away and most recently about 5 minutes ago. I asked again about them putting out a news release commenting on the deadline of July1/98 for Barrick’s involvement. The Deadline was not for Barrick’s decision but rather it was the deadline for Chesbar to supply the data to Barrick. Again I told him to put a news release explaining this and that work is still being done on the property . His gut feeling is that Barrick was very happy with the results and that the last data they wanted has been sent from Venezuela. I asked when will you put the pressure on them to decide and he said they will once all data has been received(within a week for data to be received by Barrick) Someone has commented on the price of $1.50 and the current price in the $.80's .When Barrick came in the first time the price was in the $.80's and remember if they continue we are talking hundreds of millions of dollars so $3.0 million with good results to date should be a non issue. My point being if they wont pay $1.50 for the deal then they will not negotiate to a lower price I wanted to know if Barrick decided (god forbid) not continue then do they have a backup plan. Terry said they have several options for financing and that it would have been irresponsible for them not to have this backup (that made me happy as the way the markets are going the worst could happen).I also talked about the Guatemala project and he is very excited. They are slowly getting the permits for several new and exiting properties which again could be a bonus for CBI.
Stubbs