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Gold/Mining/Energy : Argosy Mining

AGO 84.85

-0.4%

Jan 30 9:30 AM EST

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To: martin daniel who wrote (44)	11/16/1996 9:13:00 PM
From: Eric Rojas	of 165

Martin, I did not sense a negative on Argosy's comments, on the contrary, I think they are thrying to time their good news with the gold show (San Francisco?) on early December. As far as the number of shares, they have less than 40 mill fully diluted. This is a play that will take time to develop, Is not one whole discovery. Kevin Smith remains quite bullish on AGO, in his latest letter he estimates, based on the most recent drill results, that the deposit contains so far between 1.5 t o 2.0 million oz. Eric

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