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Gold/Mining/Energy : Eastfield Resources Ltd.
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To: Eastfield Resources Ltd. who wrote (15)11/8/1997 7:06:00 PM
From: CLK  Read Replies (1) of 59
 
How much cash is left? Have you considered splitting Eastfield 1 for 2 at these levels to get it to a better 6-7 million shares out range(or 1 for 3 leaving under 5 million out). What is the difference between 20 or 30 and 10 cents to shareholders but being able to finance yourself is worth alot here. I would be excited if a split especially a 1 for 3 were announced. The other question is why the drift? Is it just the weak market or is it due to low cash or poor drill results? How were the drill results anyway? How does this property relate to the Carlin Trend? Anywhere near it? What made Placer interested? I am thinking of buying on tax loss selling but am still unclear about the future given the low cash position and number of shares out. Thanks in advance. If I were in charge I would reverse split the shares while it is so low and then be able to do a small financing when gold firms while keeping the shares out under 10 million and preferably under 7 million. Those numbers attract a whole new group of investors. There is a whole group who buy stocks with under 5 million out for example. I generally am in this group. I might make an exception here if the price gets to be under .10. The property looks good on the surface but more details of its potential would help. How deep for example do deposits in this area go?
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