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Gold/Mining/Energy : Bomax Resources - BXS.VSE
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To: Leigh McBain who wrote ()10/18/1996 10:51:00 PM
From: Solid Play   of 313
 
There is no doubt in my mind that Bomax will rapidly move MUCH closer to $ 1.00 upon confirmation of a signed agreement with Tucan on the Granite Quarry Deal in Surinam. My info seems to confirm that an announcement is in the wings to this effect...but of course exactly when cannot be pinned down. Certainly, there is a lot more interest out there right now as the bids become steadier and steadier at $ 0.35 and above and few people willing to let go anymore at the $ 0.40 level.
I remember being amazed at how little volume was needed earlier this year to move off of $ 0.40 to $ 0.65 and then $ 0.95. Very few shares traded between the jumps to those two levels. My partner and I bought at $ 1.40 in 1995 and it had a brisk move to $ 1.90 or so at that time.
The earnings which will ultimately flow from the deal will have everyone literally shaking there heads at how low the stock price was -- is -- Now...when they look back on it in a few months.
The company doesn't even want to begin to start talking about the other deals which could be added to the play down the road, for fear of being seen as hyping. There has been such a delay that credibility is at the top of their minds as they look forward. I would suspect that after the first couple of bursts this stock will do a rather orderly, progressive run-up, especially after a few blips around $ 2.00.
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