BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. Message Board

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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.

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To: Bobby Yellin who wrote (20632)	5/1/1997 1:57:00 PM
From: Eashoa' M'sheekha	of 28369

Globe says options pricey Bre-X Minerals Ltd BXM Shares issued 219,103,330 Apr 30 close $3.55 Thu 1 May 97 In the News The Globe and Mail reports in its Thursday, May 1, edition that traders are saying investors are paying excessive prices or "premiums" for options that give them the right to buy or sell Bre-X Minerals shares. The Globe's Andrew Bell writes that one trader says right now, the premiums are ridiculous and that everybody just wants to buy call options. Bre-X options are trading at about five times the premium seen for options on other stocks with similar volatility, says an unnamed trader. Call options that entitle the holder to buy one Bre-X share at $5 until December changed hands yesterday at $1.90. Market players say even if Strathcona Mineral Services results turn out positive on Monday, holders may not make a profit. Traders say speculation is going to die down. For example, if Bre-X comes out with some gold and the stock soars to $6, the December calls could stay stuck around $2 as volatility fades.

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