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Gold/Mining/Energy : Micro-Fine Gold Plays - Franklin Lake, etc.
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To: Richard Mazzarella who wrote (297)1/28/1997 9:36:00 PM
From: Larry Brubaker   of 615
 
To add a little to Richard's comments about TA: While CEO of Arakis, Arakis stock went from $3 to $26 after announcement of the financing deal with the "Sand Prince", and much hype by TA. Then, questions started arising about the ability of this "Sand Prince" to actually raise the bucks needed to construct Arakis' pipeline. Arakis stock headed downhill to $12, then was delisted by VSE, and halted on NASDAQ (for a month). The deal fell through, Arakis shares reopened at 3.5, haven't been north of $6 9/16 since, even though they recently announced a new financing deal.

Shortly after this debacle, it was alleged that TA was selling his Arakis shares at the high point through oversees "shell" corporations. He was fired by Arakis in December, 95.
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