Corriente Resources Inc -
Bishop says beaten up Corriente on rebound
Corriente Resources Inc CTQ
Shares issued 21,387,832 2000-04-28 close $3
Friday Apr 28 2000
Robert Bishop, writing in the April 6 issue of his Gold Mining Stock Report, says an examination of his portfolio indicates that the best performers have been the most speculative, beaten up, all-but-forgotten stocks on his roster. One of these is Corriente Resources, which ran from a low of 50 cents in December -- when it was in his top-10 company grouping -- to a March high of $3.30. It was $2.90 when he wrote his report. Mr. Bishop recommended the stock seven times between June, 1994 ($1.36), and September, 1999 (80 cents); the latter was also his lowest price buy tip on the stock. The highest was $4.35 in October, 1996. After having dropped from its $20 high in March, 1997, to 50 cents in December, its recent price "certainly qualifies as a bear market turnaround." Mr. Bishop says Corriente was always respectable because of its hefty treasury. In his short report, the letter writer does not indicate to his subscribers what has been driving the stock this year. In a Dec. 20 Fax-Alert, however, he said a recent deal with Billiton and David Lowell would produce significant exploration news in 2000.
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