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Gold/Mining/Energy : Akiko Gold - V.AKI
PRM 28.37+0.9%Jan 14 3:59 PM EST
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To: Jiong Sun who wrote (37)4/11/1997 3:10:00 AM
From: Bear   of 48
 
I too am a shareholder in Akiko and am disappointed in the nosedive in
the share price, especially after the encouraging runup in the price
earlier this year. I don't think the selling of the above properties
is the culprit. Those properties were of minor significance. The two
major properties for Akiko are the ones in Utah and Africa. The press
release stated that Akiko's 25% stake in the Utah property will be transferred to Korea Zinc until Korea Zinc until Korea Zinc recovers
135% of its cost. Apparently that relieves Akiko of its share of the
expenses for bringing that project into production. However, Akiko
will begin to profit from the project at a later date than previously
expected, which I think is the main thing in this press release
depressing the share price of Akiko. This means that Akiko will
temporarily be a pure junior exploration play with limited funds, and after Bre-X, the market doesn't take kindly to such stocks. But this
move will allow Akiko to fund its exploration of the African properties--which appear to be highly prospective--until it can bring
in a joint venture partner. So all is not lost. Akiko is staking a
great deal on striking gold in Africa. If it does, its stock could soar. It is risky.

Bear
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