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Gold/Mining/Energy : Gold and Silver Mining Stocks

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To: Bruce Robbins who wrote (805)	4/20/2001 10:24:17 PM
From: russwinter	Read Replies (1) of 4051

They spent about 402K on "investing activities" in the last quarter which I presume means various payments to property owners for exploration and potential mineral rights. They had two million in the kitty. freewest.com Under normal circumstances that would not be a big deal, but here we have an excellent discovery and the stock is still 36 cents, so raising money via cheap private placements would be dilutive. Really a dilemma for anybody in exploration since the goal is to keep prospects nailed down before someone else gets them. It's hard for me to be critical of that strategy really, but I understand your burn rate point. Looking at adm expenses of 32K and 28K for shareholder tasks for the quarter it's not like they are wasting money on crap, as that's quite reasonable. They are probably going to have to JV many or cut them loose as the priority should be Clarence Stream. They have a slug of warrants out with 25-35 cent prices that will be somewhat dilutive, but raise another round of money. I would think most would be wisely used as suggested by both of us. Might be a good inquiry to management.

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