I have been following both CYJ and TRNP for over a year. I firmly believe that CYJ has some potential with their California property but Arizona seems to me to be less than stellar. What greatly concerns me about CYJ is their management. Folks, lets face it, there is a plethora of truly bogus stocks on the VSE that are only performing based on fiction and hype, rather than substance. I like Mike Skopos and I have heard good things about him. I was in and sold my position in the 50's and 60's because I became very very weary of management. I ask all of you to do your DD and not get caught in all the HYPE. Yes we all want to be rich quickly, but in the long run one becomes rich not from luck, but from doing there homework and taking everyhting he/she hears with a grain of salt. I believe we will eventually see CYJ break through, but we are still quite a ways from that point and management needs to go through some profound changes.
As for TRNP, my friend told me about it over a year ago. I have been following it since then, but I am still not convinced that it is worthy of my money. Granted, the risk factor is low, considering the stock is only trading in the 3-4 cent range. The stock has had a great deal of movement over the last week, reaching 4.5 cents on heavy volume. This stock, based on what I can tell and speaking to a few friends, should show more promise in the 1st Quarter of 1998. I will re-evaluate my position in a month or two.
As a footnote, I firmly believe that gold plays have bottomed, providing gold does not further deteriorate. The last several month's I had the opportunity of attending many board meetings, both with junior and senior producers. I think we will start seeing some interesting acquisitions by some big players in the short term. Barrick Gold and Placer Dome are just 2 companies whom I expect to fulfill that role. My concern with many juniors, especially on the VSE, is the degree of difficulty they are and will continue to encounter raising capital. Without good management and strong working capital, many juniors will disappear into the horizon. Be cautious with CYJ's management and please take all the hype and rumours with a grain of salt. I have seen many good people burned this year with juniors that promise the world. Hey, we all want to get rich quick and easy. Good luck to us all!!!
Zeus |
