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Gold/Mining/Energy : Celtic Minerals
CME 265.49+1.0%Oct 31 9:30 AM EDT
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To: Gil Kempenich who wrote (25)11/27/1996 11:13:00 PM
From: DON   of 69
 
Hi Gil:It's amazing as you said how quick the market reflects what people expect in terms of an announcement.The area in Newfoundland where CELTIC is working is a relative new prospect in terms of exploration.Newfoundland is not your typical and well known for its Gold and Base mineral production compared to some other major parts of Canada,like the Timmims area of Ontario.Major brokerage houses do not follow what is happening in N.F.L.D. compared to a significant discovery which may be made in other provinces,because it is not known as a large gold producing province.Consequently,even the rumours were limited to a small market and will only have a major impact on Celtic once they release results.From what I have been told about people working in the area,there is still staking going on and companies are very tight lipped about their plans until they are confident that they have sufficient ground staked for exploration and protecting what they have already staked.Only when we see some results released from the area,in my opinion will it reflect in the stock price.I can not see any of these companies working in the area after December,because of harsh working conditions during the winter,in that part of the province.Gil,that is my opinion for what it's worth,but I see the area as a beehive of activity,next spring.Hope this sheds some light on the subject.Regards:don
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