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Gold/Mining/Energy : Silver prices

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To: Karen E Hoof who wrote (2211)	10/7/1999 5:41:00 PM
From: Claude Cormier	Read Replies (1) of 8010

Karen, BAY is Corner Bay listed as BAY.T on the Toronto stock exchange. The stock closed at $C 1.75 today bigcharts.com We started buying BAY at $0.50 and still holding as we think the potential is for more gains. A few Canadian analysts have calculated net asset value in excess of $3.50 for the stock, at current silver prices. We think the game is still young and it could go higher with some luck. Of course BAY has no revenus nor profits. It has no debt either. It has some cash (less than $1M) and this great silver deposit in Mexico. News are coming out shortly that will tell us more on what they have. But so far, exploration results have been excellent. Time will tell if this deposit which now appears to be indicating some 100 millions ounces of silver will become a mine, and if it does, how profitable it will be. All I can say is that the numbers looks really superb with a very high IRR. But you know mining...anything can happen. Claude P.S. I like very much your two golds, GLG and HM...with GLG being a favorite. SSC still has a lot of debt.

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