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Politics : Gold and Silver Stocks and Related Commentary
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To: T.F. who wrote (9032)3/18/2005 12:10:57 PM
From: ogi  Read Replies (2) of 18308
 
Well T. F. I still have my eye on ABS although I didn't get to them during the PDAC. So, I don't know anything more than what can be deduced from their news releases.

I got out not because the play was a bust so much as it was doomed to be dead money until the next drill results. Pico Machay is far from dead if the next round of drills can produce. They also have other properties in the pipeline that look intriguing (Hualatan). Still had 2 million in the bank at the end of the year so they should be able to operate for at least the coming season. Possibly two drill programs, Pico Machay and then Hualatan. They did also announce a new V.P. of exploration with strong experience in Peru, that being Pierina.

So, not a bad punt at these prices or wait to see the next round from Pico Machay and evaluate things then. I doubt there is as much expectation on the next drills so good or bad there should be easier timing on a decision, even if I pay higher prices than now. I think I will probably wait for drills.

Cheers,
Ogi
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