Micro-Fine Gold Plays - Franklin Lake, etc. Message Board

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Gold/Mining/Energy : Micro-Fine Gold Plays - Franklin Lake, etc.

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To: Victorio who wrote (543)	3/27/1997 12:21:00 AM
From: G Young	of 615

I'm not sure I understand what you mean. When you say "anyone who believes him" are you referring to Baines or "the person who originally staked the Delgratia piece". What am i dead wrong about? I don't remember making any rock solid assertions; just pondering what Baines and Bishop's relative effect on the desert dirts might be. I hope they're winners too. I have CYJ and will probably pick up some CNA once I cash in some profits. Also from what I remember about Baines' initial article on Delgratia he simply noted it had quadrupled on only (about) 4 drill holes. He said Delgratia, based on this, had announced 5m oz, causing the stock to run. Days later, Delgratia issued a release clarifying that the holes hadn't turned up 5m oz (as if they could), but rather the company only got involved in projects they thought had a min. of 5m oz. I don't own or follow Delgratia so I'm not up on any other details. I do know it tanked badly a day or two after Baines article. Just saw your last post. Seems to me that the massive drop was an unfortunate confluence of events. Lots of profit taking to cover Bre-X margin calls no doubt (CBC Newsworld's business analyst apparently predicted an $8 opening descending to $2 by day's end...which makes me think...mass suicide in upscale San Diego home; cult my ass, check their pockets for Bre-X stock certificates.) and fiscal year end book balancing by the brokers. Month end can be bad enough but lots of people are saying that all the brokerage houses have to have quotas and goals met by month end, as well as covering all their short positions (declared and undeclared). Ultimately, this will be good for gold juniors deemed to be in safe areas. Price of gold is already up ($3 today I believe) and junior golds have already been given the blessings of lots of analysts who claim it will be the most profitable sector this year. Hopefully, people will stay with junior golds, just shift them from Indonesia to DD's.

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