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Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE)
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To: Hugh M. who wrote (166)10/15/1998 6:25:00 PM
From: Baywall  Read Replies (1) of 210
 
Hugh,

A year on SI and nothing thus far has come to fruitation. The talk and technical analysis appear to have had no effect or merit. In talking with mgm't over the past year a rosy picture was painted, as expected. However the mining industry was going into a slump with low commodity prices, and today no institution will finance a junior looking for precious/base metals and diamonds.

The diamond prospect in Africa is history because financing could not be arranged. Since financing is dependent in part on higher commodity prices, the best Geodex can do for now is seek out good properties and be ready come the upturn. At least they appear to be doing that much with properties in North Africa and Mexico being looked at.

Maybe better days lay ahead for the industry and Mr. Marr will find that special property. But since my technical analysis doesn't correlate with anything since Sept.1997 and properties are written off, all that would remain is emotional attachment.

I will continue to investigate where interpretation may have gone off course. For example, there is a positive divergence in weekly PVT (price/volume trend) chart. A reverse divergence of same occurred Sept. 1996 before Chimborazo was announced and the subsequent price decline. Both versions should normally signal a reversal of prices.

I will avoid any further investments in all firms until I clear up this matter.

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