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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: alan holman who wrote (25188)6/2/1997 11:26:00 PM
From: Jules V   of 28369
 
Barron's magazine editorial by Alan Abelson this weekend has updated Mark Twain's definition of a gold mine - hole in ground with a liar at the entrance - given BXM/Delgratia (and all the others lately). To summarize:

Once upon a time, fuzzy face, dust caked, bowlegged, gap-toothed, old prospectors used to sit around the campfire, trusty pick, and pan beside them, chaw in cheek, a tin cup with rotgut in hand, and swap tall tales about streams clogged with nuggets and fields filled with gold dust. (o49r is that you)

How things have changed. Today's definition: a hole in the ground with a liar at the entrance, salt shaker firmly in hand, and stock tout at his side....The liar often hails from Canada (which just as often doesn't hail back). The grizzled prospectors of yore are no more and lore no more. In their place are highly trained geologists, working with all the marvelous tools that science has bestowed upon them. The campfire has given way to the conference table, around which there are men of earnest miens and Armani suits....wise in the ways of Wall Street.

the VSE company Delgratia management was shocked! shocked! to discover some cad in an outside lab had salted samples. For unfathomable reasons a fuss was caused by the revelation that the owner of a lab handling the samples had been convicted of security fraud back in the 70's. Our experience is that rigging a stock and managing an assay are two discrete talents rarely found in a single individual.

Cheers
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