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To: Bobby Yellin who wrote ()5/7/2000 7:46:00 PM
From: robingrayson
   of 121
 
GOOD NEWS!! We have succeeded in flushing out Zaamar Goldfield Co.Ltd. - Java's ACTIVE gold mining subsidiary.

On Friday they lodged a claim at the ARBITRATION COURT at the Mongolian Chamber of Commerce and Industry against Monpolymet Co.Ltd.

This is the Mongolian private company who Armand Beaudoin signed a contract with immediately before his death 10 months ago.

I told Monpolymet (as their volunteer business adviser!) to ignore any claims by ZAAMAR until ZAAMAR was run like a normal company - ie with a properly elected - and living - General Director, plus mandatory company re-registration with the Mongolian Government (not done!), plus a parent company with a President, proper filings, a Board which meets, and clear accountability to shareholders.

The substance of ZAAMAR's claim against Monpolymet is serious and that Monpolymet is frustrating their efforts to resume mining on the rich Tulson Terrace placer deposit at the start of the 155-day mining season, and has declined to pay another big tranche of an interest-free loan to ZAAMAR. More about this in due course - it is in Mongolian and is being translated.

A SUPRISE FOR JAVA GOLD shareholders! Zaamar Goldfields Co.Ltd. has appointed a new CEO General Director to replace Armand Beaudoin. The replacement is a USA citizen, Harry L. Vassar.

The JAVA GOLD shareholders have not been told by either press release or by Annual Shareholders Meeting (last one was for 1998!)

The JAVA GOLD Board has - probably - not been told by the subsidiary, or if they were then they stayed quiet.

Who is Harry?

Here is what my team in Mongolia has turned up, mainly from the Mongolian Stock Exchange records.

Harry L. Vasner is a USA citizen (born in USA in 1940) and hails from Jakarta, Indonesia. On 5 May 1998 he was appointed Production Manager at Barmash Joint Stock Company (listed on Mongolian Stock Exchange)and in July 1999 (not long after Armand Beaudoin's death) he was appointed as General Director of the Barmash Joint Stock Company, a sizeable engineering company. This company has 384 shareholders but 70% of the shares are owned by one person (who? - we are finding out). Now for a nice spin - under Harry's regime, Barmash JSC FAILED to report its latest quarterly accounts to the Mongolian Stock Exchange (this is beginning to sound depressingly familiar...). Now for another spin - Barmash JSC, according to MSE records, in 1999 had its worst year, with ZERO sales achieved by Harry's regime, but with useful non-operating income.

For a time Harry was employed by Condor Resources Inc (a private company owned by Armand Bueadoin), which was liquidated earlier this year by the Mongolian authorities due to inactive status.

Welcome to the new General Director of your gold-mine, dear shareholders!

We will be tracking the Arbitration Court developments.

Monpolimet holds the trump card - I alerted them to the wording of the agreement signed with the the late Armand Beaudoin had a typical catch-all lawyer's clause that the contract overruled and nullified all previous agreements - which means that if Monpolimet wishes it can claim the 0.5m$ of gold that Zaamar Goldfields mined last year!

As a matter of urgency, shareholders of Java Gold Corporation need to regain control of their company from the 3 inactive Directors, and then regain 100% control of the gold mine in Mongolia by replacing most of the board of Zaamar Goldfields Co.Ltd. Not easy, but it certainly can be done!

To be a subsidiary which operates a gold mine without reporting results to anyone, to appoint a new CEO without informing the ultimate shareholders, to take to Arbitration Court a company who can easily bankrupt them, is entirely due to Java Gold Corporation having 3 sleepy directors.

So, shareholders do you want shares in a working goldmine or in wallpaper? Entirely your decision.

Robin


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To: Bobby Yellin who wrote ()5/9/2000 9:23:00 AM
From: robingrayson
   of 121
 
IMPORTANT - read the IPJ string (message 826). Directors/officers of IPJ control the Board of Mongolian Goldfields Corporation, which is 100% owned by JAVA. Lots of things now coming to light. Have a good read!

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To: robingrayson who wrote (73)5/10/2000 7:43:00 PM
From: Bob Parker
   of 121
 
Robin

Got your form and info for the JAVA case. Will sign and e-mail back to you.

Maybe we can make something out of this.

thanx

Bob

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To: Bobby Yellin who wrote ()5/11/2000 1:37:00 AM
From: robingrayson
   of 121
 
GOOD NEWS!!! 55.7 kilos of gold sold to Central Bank of Mongolia by JAVA GOLD's subsidiary Zaamar Goldfields Co. Ltd. in 1999, and the central bank ("Mongol Bank") paid 510,450,400 Tugriks, which at present exchange rate is 495,582.91 USD - say 0.5$m at last year's exchange rate.

Our team in Mongolia has a copy of the documentation of the Mongol Bank. Interesting reading. So where is the cash?

Why have the 3 extant Directors of Java Gold Corporation - Andrew Chater (of Teddy Bear Valley Mines TBV), Bernard Kraft (of Canadian Shield Resources CSP, Luxmar Resources LUX)and Gary German (of Nevsun Resources NSU) not reported this 0.5$m fact to the Java shareholders, not held any Java shareholders' meetings, not submitted any Annual Returns for Java since 1998 and not replaced Armand Beaudoin, the Java President and Director who died on 5th July 1999?

I am sure that the 3 Java Directors will correct this, um er, oversight, once they are reminded and are not too busy and not too stressed out with their other business and leisure interests.

Robin Grayson



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To: Bobby Yellin who wrote ()5/30/2000 10:25:00 AM
From: robingrayson
   of 121
 
Good news! One more brick in the wall. It seems - unless there are 2 Bernard Krafts in the business - that one of the sleepy JVAG directors is also a director/officer of Agnico-Eagle Mines Ltd (AGE Toronto & Montreal, AEM of NY Stock Exchange). A lot more news to follow.

Robin Grayson
General Director
Eco-Minex International Co. Ltd.

P.S. I have just got back from a trip to ponder the by-product Sulphur Mountain by the Caspian Sea - not far from a big Ni-Co laterite. Unfortunately the mosquitos wake you up at night and demand an early breakfast...

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To: Bobby Yellin who wrote ()6/12/2000 8:30:00 AM
From: robingrayson
   of 121
 
We expect to file formal serious complaints in a few days' time. Anyone else want to join in please email me ASAP.

Robin Grayson

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To: robingrayson who wrote (77)6/16/2000 3:11:00 PM
From: RICHARD GIANNOBLE
   of 121
 
ROBIN--

ANDREW CHATER RESIGNED AS DIRECTOR IN JAN.1999 AND GARY GERMAN RESIGNED IN NOV/DEC 1998. WHEN I TALKED WITH ANDREW CHATER , HE HAD NO IDEA WHO MR. BERNARD KRAFT IS. MR. CHATER BELIEVES THAT ARMAND WAS THE ONLY DIRECTOR AT THE TIME OF HIS DEATH.

ANDREW CHATER WAS ALSO SURPRISED AS I WAS THAT ARMAND WOULD SELL JAVA GOLD RIGHTS TO POLYMET SINCE HE WAS EXPECTING IFC FINANCING AS OF MID/LATE JUNE 1999.

RICK
"ARMAND'S TEXAS FRIEND"

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To: RICHARD GIANNOBLE who wrote (78)6/24/2000 8:21:00 AM
From: robingrayson
   of 121
 
RICHARD- well done for investigating!

It is quite possible that Armand Beaudoin was the only Director at the time of his death with the earlier resignations of the other 3 directors - 2 according to your findings (Gary German and Andrew Chater) and perhaps Bernard Kraft (especially if Andrew Chater has never heard of him). Obviously we need direct opinions of Bernard Kraft on this.

However, there is a legal case that - even if these 2 (or 3) directors submitted their resignations in the proper manner that - SUPRISE - they are STILL DIRECTORS for the following reasons:

1. Resignation of a Director is a material change. Thus there has to be a Press Release, SEDAR notification, and Letter to Shareholders. None of these 3 steps were taken in the 2 (or 3) resignations = 6 (or 9) mandatory steps required by the Ontario Securities Commission, with Java Gold Corporation still listed on CDN as JVAG throughout this period.

2. As I understand it, a Director cannot just resign - especially from a possibly dificult situation - but the resignation has to be duly accepted. I am studying the relevant Canadian legislation on this and taking legal advice. Either a) the CEO has the power to accept it, b) a formal meeting of the Board must accept it, or c) a Shareholder's Meeting must ratify it. In my opinion there is a fair chance that only a) happened - not enough to make the resignations valid.

3. The 3 individuals are still listed (along with the deceased Armand Beadouin) as Directors of Java Gold Corporation (Ontario Corporation 001182521) in the certified true copy I have of the Corporation Profile Report, filed at the Companies Branch of the Ministry of Consumer and Commercial Relations of the Province of Ontario. It is a statutory requirement for a corporation to update its Corporation Profile Report. Thus the corporation either made a huge clerical error for years (pssible but not so likely) or ther resignations were to be put before the next Shareholders Meeting (much more likely. As there was no "next Shareholders Meeting" then bingo, they are still directors, albeit with the status of "resignation tendered". Right now I am pondering the law books (I am not a lawyer) and seeking specialised legal advice. Maybe in a weeks' time I'll have the answer. Anyone else got opinions on this?

4. Now a biggy! According to the Corporation Profile Report, the MINIMUM number of Directors permitted is THREE. This, again, suggests that the resignations of the directors would not be allowable if it caused the number of directors as less than 3.

The upside is that if they are indeed still directors, with resignations tendered, then the stage is set for a Shareholders Meeting to be called and duly accept their resignations and replace them with others willing to take up the challenge. Sounds promising.

The downside is that if Java Gold now has no directors, then it will take some investigation in how to call such a Shareholders Meeting.

A rather chilly possibility is that if indeed the directors resigned and were replaced then shareholders were not informed, nor the authorities, in which case it is time for the mounties to be called in. This scenario is still vague, but frankly anthing is possible once a listed company ceases to submit accounts, ceases to hold shareholder meetings etc.


Rick, your investigations now draw attention to a fourth person - JOHN HERBERT - who according to the last SEDAR posting of Java Gold Corporation was the Chief Financial Officer. I note he is not listed as an officer on the Corporation Profile Report of Java Gold Corporation! Lest that pass, presumably he is central to understanding the finances and I assume he has kept records. I think I can dig out his contact details and current occupation. More on this later!

Keep up the good work

Robin Grayson


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To: Bobby Yellin who wrote ()6/24/2000 8:39:00 AM
From: robingrayson
   of 121
 
NEWS! COURT PROCEEDINGS START ON MONDAY IN MONGOLIA
On Monday the Arbitration Court of the Chamber of Commerce of Mongolian sits to consider a claim by Zaamar Goldfields Co. Ltd. (100% owned by Java Gold Corporation JVAG) against a private Mongolian company, Monpolimet.

Thanks to Siliconinvestor, several JVAG shareholders emailed and faxed letters to me. These have been swiftly translated into Mongolian, the validity of the translations duly notarised, and in the nick of time were accepted as evidence by the secretary of the Arbitration Court. Thanks everyone!

These statements alledge that Zaamar Goldfields Co Ltd has not submitted any accounts or information about their mining activity, or indeed about the dispute to the 100% owners, ie the shareholders of Java Gold Corporation. The validity of the supposed General Director of Zaamar Goldfields Co Ltd - USA citizen Harry Vassar - is also challenged as this is a matter for the owners to decide, and they have not even been notified.

The results of the Arbitration Court proceedings will be announced late on Monday (Mongolian time) or perhaps the next day. I will post on this string the result.

At last the shareholders of Java Gold Corporation are beginning to get some influence!

Robin Grayson
General Director of Eco-Minex International
(Mongolian-UK joint venture)

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To: robingrayson who wrote (80)6/24/2000 3:44:00 PM
From: RICHARD GIANNOBLE
   of 121
 
Robin--

I am sure that all of the Java Gold shareholders appreciate your updates and dedicated efforts. Have you thought about being a Director of Java Gold in the future depending on the outcome of the hearing on Monday? I will try to contact Bernard Kraft on Monday via his new phone number. Andrew Chater should receive my special mail packet on Monday or Tuesday and he will call me with his thoughts on all the documents you e-mailed me.

Thanks again --- Looking forward to the Monday hearing results.

Rick Giannoble
Austin, Texas

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