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Gold/Mining/Energy : Wheaton River Minerals (WRM Toronto)
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To: Jimsy who wrote (53)4/28/1997 6:25:00 PM
From: Steve Johnston   of 350
 
I presume the intersection you are referring to is the Limestone Ridge hole that was drilled late last year. The intersect length was very short, I believe 10 feet? The fact remains that WRM has pissed away over $10,000,000 in futile attempts to find new discoveries, over the past two years, through rights offerings and private placements, which has severely diluted the share base. You are right in suggesting that infill drilling this year will move probable reserves up into the confirmed category. This increase in reserves will be modest, and cannot support a share price over $1.00. Alot of big players got burned severly on WRM two years ago when the supposedly rich Grizzly deposit fizzled out, starting a downward spiral from which the share has never recovered. In short, the company lacks credibility right now.
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