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Gold/Mining/Energy : Yamana Resources INC. T- YRI
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To: Greg W. Taylor who wrote (691)9/23/1997 4:29:00 PM
From: Michael July   of 2346
 
Greg,

Did I understand your last post right that you have/are personally investing and averaging down in YRI at these levels? And is management personally buying any shares on the open market? Based on your posts on the number of favorable targets YRI has, one would think that management would be tripping over each other to the window and buying the stock with both hands. If not, then I question just how viable this speculative stock really is. Looking at a chart of YRI shows the price steadily dropping at a nice clip. No signs of a bottom. Buying now would be like trying to catch a falling knife...same as it would have been back when it was falling from the 4's and 2's. Sure this is a lousy environment for gold stocks...especially the exploration plays but the market is saying "so what" to YRI as an asset play and it's position in New Guinea. And the market may be betting that YRI will need additional financing by next spring in order to keep drilling.

With the onset of tax loss selling in the very near future it doesn't take a rocket scientist to know that there will be increased selling pressure soon. In fact I expect to see YRI drop below CN $1 during this time (hope I am wrong). I am thorougly disgusted with what has happened to the stock price and what I see in the near future. I'm asking myself now why I should remain in this stock.

BTW, thanks for keeping this thread posted on what is going on at YRI. Sure is a breath of fresh air compared to what other gold companies offer.
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