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Gold/Mining/Energy : Millstream Mines (MLSM)
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To: Brumell who wrote (188)8/27/1999 1:38:00 PM
From: Morag  Read Replies (1) of 664
 
Hi - Given the pasting the stock has taken over the past little while I called IR today and got the following info FWIW

1. Drilling to start within the next several days - reason for the delay has been ongoing discussions between HDG & MLSM on where to drill next - will issue news release when drilling starts again.

2. Area with anomolies to receive higher priority than before

3. HDG still on site (Potter Property)- and onside

4. Will accelerate drilling program if necessary to meet agreement terms with HDG (December outcomes at the latest)because they are way behind schedule. This is due to the fact that they encountered difficulties in each of the 4 holes drilled due to fractured rock that extends throughout the targetted zone. Will now drill from north to south

5. Spotting of holes virtually complete

6. Flow through shares appear to be just about gone - theory is that current weakness - today especially are month ends that can't be carried over - the optimistic part is that someone is still buying.

7. Talk is that MLSM will yield anything from 3-6 million tonnes.

8. Some majors have been sniffing around the past couple of weeks, with some site visits this past weekend.

For those unfamiliar with HDG, they had another play Dumont - and took it from .50 to about $1.20 with virtually no results - currently about .20. MLSM has a lot more substance.IMO

HDG will apparently begin to throw their weight behind this one in the early fall as anticipated at the spring AGM.

Given the above I hope that we see some upward movement over the next 3-6 weeks. Although you never know with junior mining stocks

Cautiously optimistic - hurting and holding for now.
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