Everybody should get over to CSW and help clean up the mess!!!We wouldn't be getting sh*t like this if we had some positive posts!!!!
Paramount Ventures fourth most active conference
Paramount Ventures & Finance Inc PVF
Shares issued 27,591,374 Aug 27 close $0.50
Mon 30 Aug 99
Week ended Aug. 27th
by Stockwatch business reporter
Paramount Ventures was reviewed in the last issue of Forum Watch, advancing
one position to claim fourth spot among Canada Stockwatch's most active
conferences. On Aug. 23, Paramount issued a release updating investors
regarding progress on the Rio do Sono alluvial diamond project in Brazil.
Paramount has fulfilled its obligation to spend the first $1-million (U.S.)
of expenditures and has vested a 50-per-cent interest in the joint venture.
An initial period of trial mining has commenced under a provisional mining
licence and an application for a full mining licence is now well advanced.
Upon the issuance of an unencumbered mining licence, a dredge unit and
second diamond recovery plant will be commissioned and the operation will
be ramped up to full production capacity.
Posting activity in the Paramount conference increased, but the discussion
was often desultory. The news release on Aug. 23 apparently contained more
information than some participants were expecting. One eye, agreeing with
Flea wrote: "Yes, it was a bit more than I expected. Under normal
conditions, the end of the first paragraph would have been all they wrote.
But nothing earth shattering and I am still convinced we will get
'diamonds' in a September release...We will see Wawa updates around the
same time..." Gregor Samsa wrote: "My information is that there will be
more news in a matter of weeks...this should carry it up high enough for me
to thank all you guys for getting greedy one last time." Gregor Samsa's
suggestion that he would sell on a quick 30-per-cent gain drew some debate,
with One eye and Matey evidently convinced that the stock would move much
higher.
Gregor Samsa had earlier berated some of the conference participants for
not having the "proper investment attitude" and, as the discussion skipped
around, his interpretation of what that entailed became clearer: "It's
always interesting to see people who actually believe all the crap that is
handed out. Not that it matters as long as you bring in more rubes. I'll
sell you mine shortly and thanks for the memories." Those comments drew The
Grizz into the discussion: "You are obviously a trader and not an investor.
Have you read any of the news releases or done any DD? I would say Dr. Rory
Moore's and Kennecott's reputation are second to none in worldwide diamond
exploration...We have seen from ABZ, WSP, SUF, DMM, and so forth, that
diamond plays are about the only resource situations that are getting any
sort of positive reaction in the market." As it turned out, Gregor Samsa
apparently sold his holdings without making his 30-per-cent gain but still
sporting his attitude: "Its amazing that some common and sound investment
strategies could be subject to such vehement criticism. And all by a group
of people renowned for the fact that they have lost a bundle believing in
this rotten apple." Paramount finished the week at 50 cents.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
