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Gold/Mining/Energy : Armada Gold 10 Million oz of Gold & 1 billion lb of Cu !
AAU 0.380-5.0%Sep 29 5:00 PM EST
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To: Ross Orr who wrote (146)3/26/1997 11:02:00 AM
From: stockman   of 552
 
Hello Ross

I am somewhat stunned at the recent decrease in share price. We have all watched it drop from 1.50 to 1.15. For me personally, I got in way back when over the $2.00 mark. Nothing has changed besides progress with this company. I just can't explain it. When I first came across Armada, last year, I cruched some numbers. I believed and still do that this is a good buy. Even the most conservative numbers posted on this thread have the share price pegged at $2.00 dollars not including the copper deposit. I'm sure everyone will agree that this should at least be a two dollar stock even at today's prices.

I think that most investors are not aware of what is going with Armada and are dumping this stock to get into other plays.

Ross, I would like to ask you some futher questions:

1) Is the feasibility study still on track?
2) How is Armada planning to finance the expansion of the cooper plant and will the expansion take place this year?
3) How will Armada finace the building of the plant for gold production.
4) When will they begin construction on the gold producing plant and when will it be complete?
5) Is all the exploration done with or are management focused on expansion of the plants.
6) When can we expect some cashflow numbers from the copper plant?

I realize some of these questions may be answered in the feasibility study that will be out soon?

Thank you Ross for your info and insight.

stockman
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