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Gold/Mining/Energy : BANDORE
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To: Rick G. who wrote (464)4/25/1997 2:41:00 PM
From: Y. Buffet   of 1692
 
Boy I go away for a few days and look at the carnage. I must admit that this seems to be more than a little sell off to pay tax bills. The shorts and naysayers have the rumour mill going full tilt ; fear and margin call selling are creating a feeding frenzy for the sharks to feast on the little guys.
To the best of my knowledge : Ban is now focusing on infill drilling around key areas aswell as planning for some near future bulk sampling in order to prepare a preliminary resource calculation. Undoubtedly the first yardstick to measure what should prove to be vast resource. I do not know anyone in the mining industry who is not convinced there will be at least one and perhaps as many as three mines on the 100% Thorne property.
Unfortunately, the quixotic nature of most junior explorstion Co. stakeholders was not encouraged by the article entitled "Tonnage and grades won't be announced for a while" which appeared in the May addition of Mining North . The article concludes that much more drilling will be needed to ascertain the quantum of resource. The market interpretation seems to be that this is a bad thing and that any resource calculation is thereby deferred indefinitely. My view is that this is simply the best development play in NorthAmerica and it keeps getting bigger.
YB
p.s. I'm sending my tax cheque to my broker and buying more Ban.
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