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Technology Stocks : Xenolix Technologies (XTCI) 'Ecstasy'(Formerly MGAU)
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To: KipferlMeister who wrote (1146)7/12/1997 8:29:00 AM
From: Richard Mazzarella   of 5143
 
Michael, everybody needs to cut each other a little slack. I understand the disappointment in having a active mine play out. Oil exploration company stocks get hit when they drill a dry well even though they found a dozen great ones. The "gold pour" tour did support that investors owned an income producing company. Tim Hall had made fun of MGAU production in the past, I remember defending the company Golden Wonder operation. Seems that Tim has found one correct call. That in itself disappoints me. Yes, the market was disappointed, they soldoff. However MGAU stock is not very liquid, small volume moved it down quickly. Small volume can move it back up again. I was disappointed in the PR difficulties terminating production after the tour. However, one has to give credit to management that recognizes economic reality and makes correct decisions. If they intended to BS investors, they could have continued "some kind" of operation at Golden Wonder just for PR. Their decision to do the right thing over market perception (I'm convinced that Mike understands market perception very well) only adds to my confidence of management. Merrill Crater is now the play, that is worth the investment all by itself IMO.
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