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Gold/Mining/Energy : Coleville Resources - CLL
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To: TWJ who wrote (1633)5/16/1997 12:15:00 PM
From: John Alan Snape   of 3058
 
TWJ, Boy, I could not agree more. john seems to be unable to
understand the fundamentals of business in the junior world. First of
all almost none of them have money in the bank, that is why they
go public to raise cash. Secondly, should Antares/Strathcona
discover the 12 million ounces I am absolutely quite certain that
every bank in this country would line up at the door to give them an
operating line of credit for several million. It may be why they
negotiated a deal where they do not have to pay anything to costs
this year. (500,000 to be spent of Antares) More than likely both
companies during their meetings discussed this issue. Antares did
dilute their position to 35,000,000 outstanding to get an additonal
25 million in cash. Therefore it does not seem to difficult to raise
cash by the market. Again if the reserve (proven) turns out to be
12 million then I'm sure everyone in this country will want a piece of
the action. Doing business by a line of credit is a very cost effective way of doing business today. Again, if Coleville did not have any
POTENTIAL then by all means cash is important, but, it seems to me
that with that POTENTIAL cash should be no problem.
By the way why is this even in the conversation on this thread when
there are far more important issues at stake - like when are we going
to have these beautiful results.

john, I agree with TWJ - all the best up the road but if I were you I
would sell the position and move over to Antares where you can
feel better.

All the best - John S.
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