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Gold/Mining/Energy : Princeton Mining Corporation

PMC 29.25

0.0%

Dec 8 3:00 PM EDT

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To: John Soileau who wrote (30)	4/25/1997 11:18:00 AM
From: Lee Matheson	of 73

I've heard no news since PMC issued the Warrant, and in essence set the stage for dillution of PMC shares. There are a large number of outstanding SHORT positions against PMC. While this is likely a speculator driving the price down, there is always the possibility that a promotor has SHORTED a lot of shares, so they can be purchased back at a profit, while still supporting the stock price (assuming the price drops). I think Princeton will stay depressed until Copper shows a much bigger move up. .... PMC's write off of the Princeton area copper mine has NOT helped earnings.

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