Golden Hemlock(GHE) Message Board

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Gold/Mining/Energy : Golden Hemlock(GHE)

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To: Hugh M. who wrote (406)	9/9/1997 3:14:00 AM
From: Robert Dydo	of 909

Hugh thank you for very good and intersesting explaination of this problem. I understand that this is important factor for people in their calculations of points of entry assuming that levels of pricing on options are reachable future for the stock price if it is trading lower currently, as well as good starting point for profit since that what insiders are after. I don't want to sound naive and I probably will, but the view you are expressing is mainly of one side of the fence. You have noted before that insiders include directors of the company, geologists and other mgmt employees. I believe that despite obvious characteristic of the option as a money machine for those people there is another side to this which is nothing else but earnings or simple pay. In exploration there is no source of income for the business. People seem to remember only about drillings, aquisitions and so on,they don't care about the people. I am not going to turn this to some moral dispute and I do agree with all the points you made, but it is not simple greed but necessity sometimes to reprice or issue more options just to simply survive next winter. Options are also powerful force to attract professionals to poor in cash company which otherwise it would be impossible. It is also a way to keep extremly valuable geologist in place since tonnes of other companies are fighting over him. If you allow this idea to be alive, it could ease your opinion on the subject in some cases. The scheme that there is no more hope for return to levels of previous option price as an general insider's outlook is not something I would put in book of facts. In the same aspect buying for the profit would make any logical reason if you got in for the price around the lowest unexpired option out there in order to secure your return.That alone is practically impossible to achieve and sounds unwarranted and narrow. It would be viewed as an upset if GHE would in fact address this problem by lowering the price. It could probably show that current program is not gonna make a hit run before the"winter". I hope it won't come to this. Robert

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