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Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE)
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To: Joseph LEE who wrote (129)6/15/1998 10:33:00 AM
From: Baywall  Read Replies (2) of 210
 
Joseph,

On Friday, the bid prices showed some volatility. The morning started with 17 lots at 15 cents. After a portion was sold, the remainder was taken off the market. The next bid came in at 13 cents. It too vanished to arrive at the current 11 cent bid.

The past week has seen the 16 cent level penetrated. Whether this is an action to shake out weak holders, or is in response to a declining VSE index, remains unclear.

An analyst with Canaccord Capital is reviewing the various proposed properties to determine their eligibility for financing.

I saw message #140 regarding a revision for shares for debt financing. 15 cents is the minimum at which financing can occur. Management must be confident that shareholder values can be increased. Why then all this effort? They could have easily sold their shares over the past two years and left with a profit.

I am waiting for a news release describing various properties and financing provisions for them. If such occurs and is favorable I will be in the market. When analyzing individual mining stocks I would like to see the industry in an uptrend. Any price rise now will be against the market. The saying: A rising tide raises all ships and vise versa, applies.

Kaiser is in Vancouver today describing his bottom-fishing strategy. Anyone attending please ask him about Ascot Resources and why it is rising. A year ago it was a buy and recently a sell by Kaiser. A special warrant financing for two properties made the price go up from 9 cents to a high of $1.03. Is it this easy?

Hope it all goes well.

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