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Gold/Mining/Energy : Argosy Mining

AGO 87.75

0.0%

Feb 6 9:30 AM EST

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To: Marc L. Greenberg who wrote (8)	10/5/1996 10:44:00 PM
From: Ron Pitts	of 165

Marc, I think you hit the nail right on the head, that is that indeed people are moveing money to drill plays that can reach there climex (sp) shall we say in a much shorter time frame. I must admit I myself even fall pray shall I say to that kind of thinking. That is why I started the thred (sp) damn can:t spell or type. The thred called current drill plays. There are a number of them that even I am aware of here in northern Vermont. My current problem is were do I put what dry powder I have left you know. At any rate I guess I have enough confedence level in Argosey, to let it ride, infact if I had more money I would be inclined to by on the dips , at say 1.75 US. I think we live in an age that if it takes 1 year to double our money we say hell I an't waiting for that! A sign of the times? Let me say I concider Argosey a good long term (1-2 years hold) and if we are wrong and they only prove up 3 million oz. instead of 15 million the stock will still double because the market is only giving them credit for 1.5 million oz. now! I simply like the risk reward ratio here. I am quite sure most folks would laugh at this statment but for me it;s true we all need a few concervitive (sp) plays as well as home run plays . I see Argosey as both so they got my money. Marc, I can sleep with this stock a number of them I hold well lets just say are not for widows and orphans as they say. It;s a keeper in my books. Ron Pitts

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