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Gold/Mining/Energy : ORXX - Orex Gold Mines Corporation
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To: Chuca Marsh who wrote (61)8/1/1999 1:12:00 AM
From: Ga Bard  Read Replies (1) of 2392
 
Chuca .. the following post are questions I have received ... Now I do not mind questions so I will give my personal opinion to answer these questions. SOme could assist in giving answers or correcting me if I am wrong.

but can anyone tell me why this stock fell from about $8 to $2 in or around May/June.

I would have to refer to the historical trading log to answer this.
Message 10734288

Now according to this post the stock came up from 1.75 on 3/18/99 to a high of $7.81 on 5/28/99. SO according to the math I always use that is a 6 dollar difference so a natural course would be for the stock to pull back to $4.75 which it did on 6/4/99 However because the float was so small it fell even further like to $1.75 and closed at $4.25 on that Friday afternoon.

Now on Monday morning 6/7/99 before noon the comany made a news release and stated the following. The Company also states that there has not been any news or event of either an adverse or positive nature to account for the recent volatility in its stock price. It is believed that this market activity is strictly due to excessive shorting and subsequent repurchasing of Orex shares and has no correlation to any material elements of the Company. The volume suddenly spiked and the price rose to over $5.25 but closed at $4.50.

From there the stock fell on tiny volume. Why because there was no float and selling ro shorting which the MMs took full advantage of to say the least. I fell back to it original floor of around 2 dollars and met serious resistance. the volume increase on no news or anything so I believe it was shareholders averaging down since the low for the year was $1.75. This went on 6/22/99 till 7/13/99 where great news came out but the buying seem to stop though the volume again reduced and it fell below the all time low. On 7/21/99 a Tuesday at a 1 dollar it met with more resistance but the selling shorting over came that also.

ON 7/23/99 it met more resistance and even more the 24th with the news but it is continued down far below the all time low. Until the gap up I saw on 7/28/99 from .34 to .68 on a 5000 share order. The rest is history and the bvolume has been increasing.

NOw a couple of things of interest here. Please note in the stock structure ... Message 10747073 there is 500K in the company hands which are the captured shares from A PR firm. Plus they are after another 250K from another PR firm that sold into the market. From around the first of June which would account for the drop.

Now the company has stated there has only been 1.6M on the DTC reports and the ADP reports. The main reason they knew this to be true is because the large shareholders I believe pulled their stock certificates. ON or about 7/23/99 one of the large shareholders deposited 1.1M into a broker account. This would account for the increase in volume and selling.

Now after talking witht he Transfer Agetn who is a contractor of the company they would only give me very little information. Which was the outstanding. other than that I would need a fax or something from the company so I called Warren. He immediately made the conference call and I not Warren spoke to Mathew at Mamouth Stock CO. in NJ. I was told the stock structure as I have posted it figure for figure. ALso the DTC report shows on 1.6M in broker account as of 7/16/99. I was informed the increase in shares outstanding was becuase of some shares that were being held in an escrow account that were released last week.

Now I had to prove the company was not selling shares the nbest way I could so I asked for the certs of the consults and friends of the company. SInce they are out money from the $4.00 range and higher ... not to mention the averaging down, it would be in their best interest to fax the company as B/W verification that the company had not been selling shares into the market.

As per the post on the summary most of that has been proven and faxed to SHell Searcher. I will get the faxes also Monday.

Now one of the large shareholders stated that the DTC would show 2.7M instead of 1.6M this report. I call Warren and he tracked that to another large shareholder who stated they had not sold the stock and would pull it immediately.

I also questioned the short position of the canadians. I know shorting exists but this one is getting ridiculous. Suddenly I saw 100K shares sell and the 15000 blokcs and 7000 blocks then 5000 blocks. I called Warren who let me listen in to a MM and they told Warren the orders were coming out of Canada.

I asked if this 1.1M was a shareholder in Canada? I was informed no. I call one of the consultants and was told this is a problem with the USA and Canada ... they do not have to follow the rules of the US and they do not need stock in someone else's account to short against. They can just have at it.

This basically confirmed everything I was told by the company the MM and the consultant.

Now I have been on line too long so I went searching for the shorts. With this kind of resistance in the volume the nays would be out in force. I found the internet bashing pool... guess where it is? You got it the good old RB thread. Wonder why they do not come on SI and flame this stock? COuld it be they would have to expose themselves and their ID could be discovered?

Anyway that is just one of the questions and I have given my honest opinion. Everyone is going to have to decide for themselves.

GB
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