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Gold/Mining/Energy : South Pacific Resource (C.SHF)
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To: maps who wrote (1801)10/31/1997 4:53:00 PM
From: maps  Read Replies (2) of 1980
 
Hi to all: Still here. Thought it was time to check with Cam again.

It looks as though we should expect some news next week.

I am sure any company contemplating becoming a JV partner would have a large selection of property to chose from. They would also have done a lot of their own testing. When the deals close I think we should congratulate ourselves, as well as everyone at SHF as this would be confirmation we really do have some excellent properties and management skilled enough to close a deal in this very competitive market.

(Still keeping my fingers crossed though, might have to take some therapy to straighten them again:))

Pretty scary week. I know I wanted a change in the market but not quite this much.

Below is a posting from the Kitco Gold discussion group, I thought the numbers looked a little encouraging.

Good luck to us all

maps

Date: Fri Oct 31 1997 11:02
Allen(USA) (@HowNuchMoneyDoYouHaveToSpend) ID#255190:
In previous posts I put forth a possible US pot of $50 Bln looking for gold or silver. That
would be private demand to supplement portfolios to a level of 5% in bullion. We have heard
that Mr Gates is a buyer and that this has inspired his minions to the same task by his
example. No doubt this word will spread like fire in the computer industry, no?

COMEX stores dwindled 3.8%, 4.2%, 8.2% and 10.5% ( yesterday ) in the past four
trading days; 32 Koz, 34 Koz, 64 Koz and 72 Koz respectively. Stores level is 640 Koz
now. There is an obvious quickening in the pace of withdrawls.

With an average of these numbers at 50.5 Koz per day draw down we have approx 12 days
supply remaining. If the quickening accelerates according to these four numbers than we are
talking about a complete withdrawl of stores in about 5 to 6 days time.

DO YOU HAVE YOUR GOLD NOW?

And when gold is exhausted at this price where will silver go and how fast?

Regardless of the intentions of CB's to manipulate gold pricing on international markets the
EFFECT is this provides a buying opportunity an there are some very hungry interests out
there right now. In fact I look at this price situation as one way to provide and opportunity to
DRAIN gold out of the system which is exactly what is happening, whetther this is an
intended consequence or not. If the price does not rise than no more gold will be depositted
in these warehouses for sale because if it wasn't up for sale before it certainly will not be now
at these prices.

DO YOU HAVE YOUR GOLD NOW?

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