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Gold/Mining/Energy : Cusac Gold Mines (CUSIF)
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To: Digrdug who wrote (347)8/30/2002 5:32:45 PM
From: richard badauskas   of 379
 
This company is a joke. The Table Mountain Mine has closed twice in the last ten years. The vein systems are very erratic and tend to become uneconomic. During their last "gold production" phase they had all sorts of problems unrelated to the erratic vein systems. Then there was the "major" gold discovery (some years ago) on the adjoining property that ran into their ground (whatever happened to that discovery??. This was going to be a an open cut mine with a very rich central vein system.

Now that we have a new crop of investors that do not remember any of these stories they start up again with the same old stuff. They have dug up Matt Ball's old thesis on the Table Mountain Mine. I think that he worked for Cusac many years ago. Shame about all of the wonderful conclusions that were made there a long time ago. None of it worked out.

They drilled here, they drilled there. They even sank a shaft and tunnel and tried to mine the gold veins. That really ruined a good story.

When the Table Mountain mine wasn't panning out they would rush out and do a venture. During one of the "previous booms" there was even rumors (talk very softly) that (gasp) Cusac was moving in on other high potential properties. I know all of this because I worked as a broker (many years ago) and got a bunch of clients suckered on this stock on what sounded like a really good story.

Maybe they will get reeeaally lucky this time and maybe pigs will fly.
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