South Pacific Resource (C.SHF) Message Board

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Gold/Mining/Energy : South Pacific Resource (C.SHF)

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To: Doug who wrote (1563)	6/28/1997 8:51:00 PM
From: Ronald W.Millar	of 1980

Doug: I read you loud and clear...and I have nothing but total disgust in myself for owning anything that has an Indonesian connotation to it. Never in my life did I imagine being so pissed off at my involvement in the stock market.Since last October this has been a royal ride to hell.With the price of gold collapsing and then the crooks from Hoax and the crooks in Indonesia getting together to screw the daylights out of each other and in the process they ended up screwing everyone with any interest in Indonesia (like you and me). I have the honor of owning a nice diversified package of 6 Indonesian Junior Mining Companies.Every company has been slaughtered by the market.I look at Scorpion which was trading nicely at $8.00 pre and now it is $1.15 a share.Indomin is the same....closing at about $1.30 from what should be around $10.00 a share.Goldstake had a fairly nice ride around $3.00 and it is lucky to hang on to $.35 a share. I have a greater loss in South Pacific and I do not blame the company for anything.Firstly as an initial pre-investor the last person I trust is anyone from Investor Relation's.I study as much third party analysis as possible and check with other Investors or brokers.But after my analysis and I have decided to invest in a company than I start to depend on Investor Relation's. I can tell you with honesty (my wife will vouch with the telephone bills)I try to phone South Pacific Resources on a weekly basis..and I have been totally satisfied with Cam Dejong and the professional manner he conveys his information.I was stung once by a bullshitting I.R. from a past company who hyped the shit out of a lousy company and he almost bankrupted a lot investors by proclaiming something that wasn't. Cam has integrity and honesty which is a rare ingrediant in Investor Relations. If Cam thinks the market will not improve for 6 months he will say so.And he has!!! To prove the point to myself that PR.isn't worth 2 cents in todays climate is another sweetheart of a company I also own shares in..Canarc Resources...they have a proven 2 million ounce discovery in British Columbia.they may be a producer in a few months and also they have a potential 5 million ounce gold find in Suriname....and the news goes on and on....but this company has been rewarded with a share price drop from $2.00 to $.90 a share.Every week there is another release from Canarc declaring more "good news"...and nobody could care less. IMHO the reason I am hanging on to South Pacific Resources through hell or high water is we still have an unbeleivable potential for a major find.We still have a great geological team headed by Gary Artmont...and we have a very adept person in R.Chase to direct the future development of our company. In closing I wish you the best ..but the ride is still going to be rough for a little longer..with or without Investor Relations. Regards: Ron

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