Eaglecrest Explorations Message Board

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Gold/Mining/Energy : Eaglecrest Explorations

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To: joseph schevenels who wrote (31)	10/15/1996 2:25:00 PM
From: Dave Robinson	of 639

EEL down .21 to 2.40 today. Don't know if its because of the PPs or us small investors selling. I sold half my position at 2.60 - 2.65 on Friday. I still hold a core position for the long run. EEL seems to be on a strategy to drag this development out over a long timeframe... maybe they are feeding on this and have no desire to bring this play to a fast conclusion. Any significant drill results will provide an opportunity for all the cheap stock to get out well into next year. I wouldn't be surprised to see the stock price go below $2.00 but I'm not confident enough to sell all my position... anything can happen and usually does. Long term I think EEL will result in a winner but only for the patient. My biggest problem with their strategy is the delay in adding a second drill rig which they have been promising since last spring. Since adding a second drill is a good sign... delaying this is a bad sign.. at least thats how I read it. Also the rush of new PPs in Sept/Oct 96 doesn't indicate to me that they expect the price to be higher any time soon especially since they did multiple PPs to take them well into next year before they need to raise more money.

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