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Gold/Mining/Energy : Global Platinum & Gold (GPGI)
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To: Richard Mazzarella who wrote (11955)10/23/1999 10:49:00 AM
From: Bob Walsh  Read Replies (2) of 14226
 
Richard, of course they had been selling stock previously to fund operations. What they did in the past does not necessarily mean, given the low share price, that they are still doing it. Jensen started reducing expenses some months ago - he let Dennis go and probably cut other expenses.

How he is funding current operations? I do not know but I will throw out a couple of possibilities: Receipts from Sabin from a few shipments(?); settlement from AuRic(?); sale of some GPGI assets other than stock(?); a JV(?); a loan from Jensen, Sonny or someone else(?). There are other possibilities besides the sale of low, low priced stock.

Regarding the drop in stock price - I wish I had a reasonable explaination but I do not know why it has dropped like a rock. In reality little has changed over the last year. They have tried method after method that had promise and THEY (Twiford, Jensen and latter Mike) thought would work and none of them worked well. So what changed in the last year. Well Mike came in but had to leave due to problems with the Canadian Insurance Industry regulators. Was that event sufficient to increase the doubt? Perhaps that was the final straw for many people. But then Jensen and Twiford brought in a new unidentified company with a new process - AND YOU, the doubter of all doubters, rebought GPGI. That should have caused the share price to increase considerable (VBG), but it went further down.

If long term holders are dumping now I do not understand it since the risk/reward ratio is great and the present return would be so low - why bother selling. I could certainly see recent purchasers dumping, ie. those brought in by Chelakas.

Regards,
Bob
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