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Gold/Mining/Energy : Starpoint Gold
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To: D. Wei who wrote (1715)10/1/1997 10:30:00 PM
From: GWalker   of 2378
 
Market Pulse response:

Hi Guru what do you make of STS last press release.

RESPONSE: It wasn't a company press release. The company owes $300k from a loan done a year ago. This is not a lot of money and there are many ways to deal with this type of loan. Some scenarios are: negotiate a PP to repay the loan, extend the loan or do a shares for debt swap etc.
Some have suggested to us that the shares for debt swap may alone explain why STS appears to have been worked lower lately, with the short position rising. The lower the price, the more shares
that would be exchanged. But will it work and will they get their stock to cover? Unlikely!
The loan was done over a year ago and has been public knowledge since then. Why would STS be going down on its own now, after releasing positive news lately and soon to begin its fall work
programs? Money was raised this summer for property acquisition and plans are being set to go ahead. Once the loan is finally cleared up, this should be the last detail before exploration starts.
Monday was mentioned as the action date, but a writ hasn't been delivered yet so what does it
mean? Some who don't understand what is going on would read this negatively, which may be exactly what it was intended to do. Remember this was not put out by STS.
All of the company's projects are moving ahead including their large Luiza diamond-gold concession in the Democratic Republic of Congo. For more details about what is really going on in the market,
you better ask STS as one of our members is a director.
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