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Gold/Mining/Energy : CVR: V Consolidated Viscount Resources - Ringer???
CVR 9.000-2.2%Nov 7 9:30 AM EST
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To: Cyber Rock who wrote (343)9/18/1997 11:15:00 AM
From: R Langford   of 409
 
Cyber Rock

You are talking of a large organization, unfortunately CVR and GUD are one man operations which makes it difficult to accomplish much on so many fronts. Len works hard on the companies but does not delegate any responsibility to anyone. His style is to find JV partners to do the exploration and funding through larger organizations. This may work in the long run but it may be a looooong run before we see it work. So far the only JV was in Labrador several summers ago, nothing since then although there have been several oportunities which did not come to fruition for one reason or another. I am sure Len is as frustrated as the rest of us.
The other style of operation is to have a large staff with funding raised through Cannacord, or some other sweat shop, used to carry out exploration. This method works if you are interested in being proactive in the mining industry, but causes massive share dilution. I think Len is more interested in keeping the shares in treasury and finding a partner to take the exploration risks. This will provide a much higher value for the stock since ther is less share dilution. It is frustrating but that is the style of this company. There are lots of others if you want the other style, they have there frustrations too. Like the stock gets so diluted you end up with nothing by the time a mine is found, or you end up with just a lot of worthless stock and no mine. At least these stocks are not diluted and we have the potential for several mines.

Bob
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