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Gold/Mining/Energy : Atapa Minerals (AML on the ME)
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To: Gerry who wrote (38)3/18/1997 6:59:00 PM
From: JUNIORSPECULATOR   of 106
 
Hello Gerry: Well, to say the least I am not impressed with this offering. I bought the stock cheap couple months ago. Talking to the people at Stroud ,I was of the impression that the financing would be more palitable and I could make a quick flip..Now I am not certain.My downside risk is minimal so I am not that concerned,although I will not make as much as I had anticipated.The Rights offering is now listed on the TSE. However there is no BID and the expriy date is March 27/97. Lets face it, any one who would exercise would be foolish since the stock is trading for less on the open market than the exercise price...Go Figure...I am only assuming , but I think that they will expire, some instituation will take down the rights (pickup a Shit load of stock) and exercise at a cheap price and then run the stock... To make any money of the rights and sell into the open the price will have to be somewhat more attractive and since their is no Bid it appears that a market will not be made.....Just an opinion....Oh well such is life . I will keep a close eye on the rights up to expiry date and maybe get a Freeby by selling.....As far as the stock goes, I will sell when distribution takes places down the road.......Have a good dayyyyyyyyyyyyyRonald

PS: Private Placement would have been much more preferred,but this debenture offering ??????Perhaps the people putting up the money want some sort of gaurantee with some interest payable if this don't pan out with the exploration....Who knows what these people think or do behind closed doors........No need for the Caps,tone it down please!!!Thank you
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