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Gold/Mining/Energy : SHOW ME THE MONEY

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To: Terence Mitchell who wrote (6)	4/12/1997 8:56:00 PM
From: Stox	of 75

Good post on IRL Terence. I also agree with your Yorkton comments and just finished reading their research report you linked. Whenever houses like Yorkton say "buy" I'm already running for the exits because a quick look at the chart usually shows the end or peak of a promotional phase. However currently trading near 52Low it just might be a more credible and honest summary. Terence I know you already know this but to illustrate for others reading how two faced Yorkton is consider this: At the exact same time that they issue a positive research report for IRL their brokerage (i.e. the brokerage and their clients) were net SELLERS OF 142.5k shares Wed-Fri this week (April 9-11). Over the last 30days Yorkton has been very active accounting for 16% of total "buy", 21% of total "sell" and net sellers of 256K shares. When one house like Yorkton or Canaccord accounts for over 20% of either total buy or sell I would be careful as they likely control enough stock to move the stock price in the short term like a puppet. Nesbitt has been the strongest buyer over the last 30 days. They have accounted for approx. 15% of total "buy" or over 775K shares, net buyers of 349K. IRL is also quite liquid averaging 224K per day over the last month at an average price of 4.08. 1.15 cash per share and a share price under 2.40. If you want to enter this one for the longer term (i.e. more than 6 months) the risk / reward ratio looks attractive. Of course depending on the twist and turns of the Bre X-files there will likely be more peaks and valleys to come. el PS - I know there are dozens of you lurking on this thread because it is the #2 on the hot subjects list currently. I'm looking forward to more posts on some of the other great companies out there with cash and multiple properties, etc.

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