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Gold/Mining/Energy : St. Jude Resources......V.SJD
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To: rdww who wrote (2810)2/7/2000 1:31:00 PM
From: ogi   of 3065
 
Hello Everyone: As you may or may not know I have been a strong supporter of SJD over the past several years, including their investment in Microshere (glad to hear it sounds good from M.T. Scott). I have recently reduced my position by half in the belief that management has and will be unable to maximize the potential of this property.

I am making no statement of facts here, simply relating how the big picture just sort of changed for me, realizing the progress we haven't made and should have, the resource calculation in particular acting as a catalyst.

After several years on the property, something in the order of two hundred drill holes, we should have had a resource calculation by now! I am certainly mystified by the comments you have reported Scott, that we need yet more drill holes before they could release a "legal " calculation. No, when I review the language and terms used in press releases, the huge gaps in time to release news,the lack of a web site coupled with a failure to conclude any deals when flush with cash in the worst bear market the juniors have ever had I lost my faith.

I am sure M.T. is a sharp study, but nothing can compare to expertise in your selected field and I think that is lacking for SJD. I am sure there is a mine there and that SJD's share price will appreciate significantly but not in the manner it would if we were in the hands of Howe St. veterans, ala Hunter Dickinson or the Lundins etc. So I have put some money to work elsewhere. I wish us all continued success in all our picks. Regards Ogi
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