CELTIC MINERAL RSCS (CA:CME) Message Board

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Gold/Mining/Energy : CELTIC MINERAL RSCS (CA:CME)

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To: StockJock-e who wrote (113)	3/26/1997 3:35:00 PM
From: JD	of 161

Fear ! Everyone dumping because the unthinkable has occurred with Bre-x. After umpteen (slighltly larger than a gazillion) companies have examined Busang data it is now learned that their reserve estimate is 'overstated'. Right now the market is interpreting that to mean 'there's nothing at all there'. It may turn out that it's not quite that bad but right now everyone with anything near Indo is getting pummelled. The REAL fear in the market, though, is that if the reserves are negligible then this situation has been existing for many months without anyone (Barrick, Placer, etc.) catching on. ( ie. THERE WILL BE A FEELING THAT NOBODY CAN TRUST ANY PUBLISHED ASSAY RESULTS). That's definitely a big problem for the junior exploration market. Time will tell. Most companies should see a climb back to status quo, but, from now on expect the market to demand some form of major hoop jumping (possibly multiple independant assay testing, stock exchange verification of assay claims, etc.) before it buys into any new 'finds'. JD

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