Corner Bay Silver (BAY.T) Message Board

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Gold/Mining/Energy : Corner Bay Silver (BAY.T)

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To: Nexus who wrote (713)	3/13/2000 3:16:00 PM
From: Claude Cormier	Read Replies (2) of 4409

<< Is it possible that some insiders already have an idea of the upcoming results on the holes drilled so far and are selling in advance of a public release? >> No it isn't my friend. In fact, insiders and friends took a private placement at $3 way above current price. The current drill program is certainly important in the sense that it could increase the current silver resource by as much as 30-40 or even 100%. But there is already a major proven reserve of 100 millions ounces drilled out, enough to justify 2-3 times the current stock market value. IMO, the recent selling is part of a correction of the advance from $0.45 to $3.04. This correction started last Novemeber and is now completed. The 38% conservative retracement level of $2.05 has held so far and the stock price has remained above the trendline from that 1999 $0.45 low. IOW, everything is normal at this stage of the development cycle. More importantly, the metallurgical study (due out in May) will tell the real story and will detrmine if we stay in the $2-$3 level (50% recoveries, highly unlikely) or if we move to $6-$7 (70% recoveries - highly probable). Nexus, that is the problem with companies that do not promote their stock, they can remain undervalued for months. The same is true with stocks like Francisco Gold and Cumberland resources. I suggest you take the time to evaluate carefully their assets and compare them to your favorite. An interesting exercise.

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