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• ~,_/ ~ • <br />YORKTON SECURITIES INC. <br />IOth FLOOR, FOUR BENTALL CENTRE <br />May 8, 1992 P.O. BOX 49333, 1055 DUNSMUIR STREET <br />VANCOUVER, B.C. V7X IL4 <br />TELEPHONE: (6041 640-0400 FAX: 1604) 640-0700 <br />TELEX: 04-508745 <br />Steve Renner <br />Mined Land Reclamation <br />#215 - 1313 Sherman Street <br />Denver, Colorado <br />80203 <br />Dear Steve, <br />iii iiiiiiiiiiiu iii <br />999 <br />~~~~- <br />l./ <br />~t ~E~ ~E <br />V <br />~AYZ5199 <br />~ec/amati n pna ;~ <br />R <br />This is a brief letter to introduce Pennsylvania West Coal Company Inc. and Yorkton <br />Securities Inc. to you and your people and to explain the development plan for the Coal <br />Gulch Mine in Durango, Colorado. <br />Penn West is a private corporation owned by a Mr. Jack Purdy of Vancouver, B.C. and a <br />Mr. Paul Baker of Library, Pennsylvania. Mr. Purdy is a graduate of the University of <br />B.C. in the field of geography and Mr. Baker is a registered engineer who has had <br />previous experience internationally in the development of resource properties and the <br />establishing of operating mines. Penn West task is to assemble a complete team to <br />manage and operate the Coal Gulch Mine. <br />Yorkton Securiries Inc. is a full service Canadian brokerage firm that specializes in junior <br />mining issues. Most of our efforts have been focussed on the precious and base metal <br />companies but with their decline in price energy commodities have taken on a higher <br />priority. We have done a preliminary review of Coal Gulch and believe that it could be a <br />very profitable operation. Our discussions with Krupp Lonhro and a local group here in <br />Vancouver headed up by ex-Quintette Coal management have led us to believe that Coal <br />Gulch could ft a niche in the local coal market. With the low sulfur and ash content <br />along with the high btu's, this coal could be used to mix with lower quality coal or could <br />be sold on its own to help an end user comply with the clean air act. Enclosed is a <br />brochure that describes Yorkton and its team of mining professionals. <br />Penn West's engineer for the project is a Mr. Greg Lewicki of Denver, Colorado. I <br />understand that he has spoken to you on a number of occasions. He has confu-med to us <br />that the pernut application should be completed and in your hand in the next two weeks. <br />Please feel free to contact us and discuss any aspects of the permit which require further <br />clarification. We plan to make a trip to Durango in the first two weeks of June and we <br />would like to meet with you at that time. <br />Sincerely, <br />L~C-(~ j>~2~~ <br />Al Fabbro <br />Natural Resource Group <br />c.c.Jack Purdy <br />MEMBERS: tNE PRINCIPAL STOCK F.%CHANGFS IN UNADA INYEBTMENT DEALERS' ASSOCIATION OF CANADA SECURITIES ASSOCIATION IN THE U.K. <br />SUITE Jb+II. P.O BO% )]9. ?FIRST CANADIAN PLACE, TORONTO. ONTARIO MS% I1F <br />AaW.uq Jra Av ENUF. 5 W, CALGARY. ALBERTA T3P AH? <br />SA LISPURY HOI15E. SUITE AB?. FINSBURY CIRCUS. LONDON EC ENG L~eD <br />