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Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE)
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To: keith massey who wrote (44)11/3/1997 11:49:00 AM
From: Baywall  Read Replies (1) of 210
 
Update on Agate Bay
1.Prospects for financing improved in talks with new partner.Over
$30,000,000 available and TSE-listed.
2.Negotiations between Inmet and new partner must succeed. Currently
Inmet is placing a high value on its share. The two are still far
apart on the monetary issue.
3.Inmet is selling all of it's world-wide non-core assets and departure is not a negative reflection on Chimborazo.
4.Cyprus Amax is acquiring smaller copper properties, there is a
possibility it may want Chimborazo back if second option payment
is not met.
5.Grades improve 20% to .72%Cu. based on latest drill results. Jack
Marr's estimates were correct.
6.I agree with your listed criteria before stock is purchased; but
watch:"buy on rumour sell on news" phenomenom which Agate Bay has
twice previously exhibited.
7.A 33 week descending triangle will come to an end this week. Prices
were driven into the apex and normally prices will now remain flat.
There have been exceptions.
8.Jason Cubitt left Agate Bay. Jack Marr and others will share
investor relations duties.
9.Encouraging grades exist on a gold/copper deposit being shopped
for in Mexico, but again, financing?

10.With respect to Kaiser, Canaccord Capital, and Yorkton Securities
do they still recommend Agate Bay as a buy if a new partner and
financing occurs?
11.Can a larger company bus Agate Bay as a shell company in order to
gain access to the Chimborazo deposit?
12.Who is buying Agate Bay stock through Scotia and Nesbitt in blocks
and smartly placing underpin bids?

The best in your investments, Leonas Labenskas
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