DIAMONDWORKS DMW.v Message Board

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Gold/Mining/Energy : DIAMONDWORKS DMW.v

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To: gg cox who wrote (359)	9/22/1999 2:00:00 AM
From: marcos	Read Replies (1) of 413

One thing that worries me here is that the only financing available may be more cheap paper. This outfit came very near going broke last winter and spring, and would have if the New Mining et al people hadn't sprung for .17 and .30 paper with warrants attached. They kept the company rolling and got themselves an outstanding deal on some quality assets, but the minority shareholders got diluted down to 197mil out, 292 fd. We haven't seen more cheap paper since 16 July - Message 10964673 ... and that, combined with continued production/cash flow success, leads me to hope that no more cheap paper gets printed, and we hold the level here at around half of Barricks -g- .... if somewhere somehow a lender can be enticed to finance Grimmer's 'focus on Camatchia', we're off to the races. More cheap paper instead won't mean Tank City from this level imho, just a more prolonged stay in the pits to which we've become accustomed, and an easier job of work for FM's client. All in all, upside is imho bigger than downside, but as always there is big risk. We shall see .... cheers

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