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Gold/Mining/Energy : Coleville Resources - CLL
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To: Glen McGlaughlin who wrote (1624)5/15/1997 11:10:00 AM
From: Lamont   of 3058
 
Hi Glen I Disagree with your statement that we need positive financial results. Yes I agree that cash in the bank or the ability to raise cash is paramount, but a net profit for an exploration company is not. We are investing in what they have in the ground or what we hope they have in the ground. If you want net profit, then I would recommend you buy shares in an established company like IBM, not a junior mining company. The fact that CLL has the Pemon is gravy as cash flows from Venezuela will pay for exploration costs in 1997 and will hopefully quit the dilution of shares as CLL will not have to issue more or as many shares to raise more capital for further exploration. Now we sit and wait for drilling to start and some positive results. By the way Gerry, John indicated that ANZ was starting drilling this week, can you confim this? Lamont
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