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Gold/Mining/Energy : Delgratia Mining (DELGF)
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To: Russell who wrote (279)4/25/1997 2:24:00 PM
From: Keith Utz   of 532
 
Russell

<This is fine as long they didn't spread false rumers>.

Its one thing to provide useful information ..good or bad..about a company if its concrete information or stated up front that its a rummor. Walt has been all over SI telling people to short the stock with no reason given. He may be right but this smells to me.

This is what I know about DELGF...

...Jay Taylor thinks it may be a $100-$300 stock.
...I hear Doug Casy likes the stock.
...Mike Schaefer of GGSR does not like the stock..his hot stock fax alert said in essence to stay away from DELGF.
...I have their investors package and poured over it for 2 hours. As a result I'am leaning toward Jay Taylor's opinion.

After receving Schaefers fax yesterday I called the Company..they are swamped with calls due to Schaefers fax..which probably accounts for the weakness in the stock yesterday and today. According to them(Anne) they are at a loss to explain why Schaefer thinks the company will not let independent moniters in the field where drilling is taking place. They refered me to their last 2 press releases where they give the names and credentials of the mining engineers selected to monitor the field work.

So, at this point in time it looks like the risk/reward ratio in favorable due to their outstanding properties in Nicaragua and to a lesser degree in Mexico. Current reserves on the Coco Mina is 1.7 million and the target is 5 million oz/gold equivalent.(100%owned). In addition they have another 10.5 million acres in Nicaragua part of which is joint ventured with Western Mining, a real heavyweight!!. Also some good property in Mexico.

Thats the facts as I see it..the unknown being the question ..were the samples salted in the field? I'am leaning toward Jay Taylors opinion that they were not because Dr. Ager is already a wealthy man.

Going to mull over this weekend and also see how the stock behaves.


Anything I left out??

Keith
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