Corner Bay Silver (BAY.T) Message Board

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

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To: russwinter who wrote (1113)	7/14/2000 3:30:53 PM
From: Claude Cormier	Read Replies (1) of 4409

Russw, 200 millions ounces may be hard to reach... but it is possible. For now I am very confident in 130-150M ounces of low cost ($2-$2.50/average). <<I think our biggest risk in BAY as shareholders is that these guys decide to become producers.>> Well I disagree here...over the long term with higher silver prices this would be our best bet. But I think they will not decide anything! They will do what is best for us. If they get a valuable offer, they will recommend selling, otherwise they are ready to move to the production path! <<That results in heavy dilution at idiotic prices, debt,>> Why so ? BAY's management has proven so far they know how to control dillution and keep shareholders happy. How many companies do we know that control a 150M ounces silver deposit (2M gold eq) and have only 12M shares out fully diluted. << hedging >> No hedging needed I think as brekeven point is well below $4 silver. <<and all the risk and problems that go with that route. Let a larger more experienced company do that. We all need to be signaling management that we want a sale, not a producer. >> Yes there are risks... but management has proven they know how to pick up the best consultants to help them make the best choice. They can also hired the best mining people. Beside... what larger more experienced company could do it... Certainly not SSC...or CDE are not even profitable thses days. I would trust PAAS... but they don't have the cash. Who else ? No matter what, I would love a takeover at $16 <g>...

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