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Gold/Mining/Energy : Pacific Rim Mining V.PFG
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To: charred who wrote (12142)9/17/1999 7:04:00 AM
From: Nexus  Read Replies (2) of 14627
 
Charred,

I beg to differ. Initially on good results, you don't know if you have a 2 million or 20 million once discovery. Speculators would have run up the price on good results and on future prospect of more good results. In this case, the results were poor and that is why we had a major selloff. It's called speculating. Why do you think it sold off after the results were published? Do you really think speculators buy before the news even if they know they are going to lose money after the news is out? I agree that the way they structure the deal is not very appealing but the price did run 33% yesterday on the announcement. Maybe it's the only way they can structure the deal to keep their costs down in the first year. At least it gives PFG a speculative value which we had lost last week and not just dependant on Diablillos.

Nexus
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