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Gold/Mining/Energy : Corner Bay Silver (BAY.T)
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To: IngotWeTrust who wrote (2234)12/18/2001 9:39:59 AM
From: Claude Cormier  Read Replies (1) of 4409
 
G_T,

You are right. There were 183,444 warrants probably exercised at $1.50 and sold on the market via a brokers transaction.

These were the warrants owned by the underwiters of the $5 million financing of December 2000. This is normal business. Nothing strange. As you see, the underwriters did'nt have any problem placing the shares as there where buyers waiting in line.

As for dilution, it is also normal for a developing company. BAY will have to financed his project to production. Eventually in 2002 they will issue 10 millions shares somewhere between $2 and $3 to get Alamo Dorado going. We all know that.

This expected dilution is what will increase the number of sharholders and market capitalization to allow the US listings in 2002. Everything is planned everything is progressing as expected.

Remember G_T, BAY has a real project. Has hired top reputable consultants in the name of Amec Simmons and Mintec to help them bring that mine up. This is for real.

As for ourselves. I am glad that you agree with our policicy of buying after our subscribers. And we did so in BAY. In fact our last purchases were at $1.68 and $1.85 in November. And we are not selling yet.

Now do you want to talk about the specifics of BAY's Alamo Dorado project. I am sure you will agree it is a great silver deposit.
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