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Gold/Mining/Energy : Int'l Wayside Gold Mines Ltd (IWA-VSE)
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To: Speirs, Robert who wrote ()6/23/2000 12:25:00 PM
From: Au Contraire  Read Replies (1) of 1321
 
Control Blocks....The subject of control blocks is a very gray area. In the case of IWA it is doubtful that Frank is part of THE control block. However it is his responsibility to find this out. If he is, then he must always file Intent To Sell notices prior to any sales.
There probably is no specific control block but the reason that he does control the vote at any shareholder meeting is because very very few shareholders care enough to vote. Have you ever been to an average annual meeting ??
The Control Block issue is routinely abused because it is not recorded anywhere.
If you, me, Harry, and Harry's barber have 20 % [I think] of the voting shares and we hang out together, we are a control block. But nowhere does it say that Harry's barber has to declare himself part of a control block [which in fact he is].
I don't believe there was any deviousness those last 2 trading days re the release of assays. It takes the geologist a few weak drill holes to start his learning curve when he hits a new hot structure. That's allowed.
We of course can read anything into it that we wish.
Let us give Frank credit because of the efforts and personal money he has put in around Wells for a few years now. That is what finds mines. He could just as easily have gone broke.
All the stories in the world will be forgotten within the first 15 minutes of trading. Speculation will have become reality. I can hardly wait !!!!

Au Contraire
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