Gallery Resources (Alberta GYR) Message Board

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Gold/Mining/Energy : Gallery Resources (Alberta GYR)

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To: John Reiter who wrote (1029)	11/12/1997 3:00:00 AM
From: John Fairchild	Read Replies (1) of 1829

John, that was good reading. The one thing that you do leave out though is the possibilities. The possibilities are what make these high spec stocks so much fun to trade. The risk/reward ratio is what attracts investors to stocks like GYR. Thats why I have bought. I looked at the huge runup taking place in the Lab stocks fueled by the results from DML and it is obvious that the market is excited about the potential for another major find. GYR properties are 100% owned by GYR and do have the potential of hosting at least a a discovery hole. If it happens then the runup will be spectacular. Results from Okak demonstate potential and as a result the stock held up rather than seeing the big sell off that accompanies a release. It's sliding now but thats more of a result of mining stocks in general having suffered this year producing the compounding effect of tax loss selling. So long as drilling continues in the area this play has legs. If we have any more decent news out of Lab it will attract buyers and protect the Lab plays from the tax loss selling. DML is just half way through their drill program and they are now drilling targets based on understanding gained from the previous holes. Their chances are very good of hitting again and the area will benifit. I expect that GYR will continue to drill as long as they can and as such we have the potential of being moved by area results or by GYR results. I think in terms of news I would think that we can expect results into the new year that will keep this play alive. John I do lots of flips on stocks that are very volitile with big swings and big volume. Often I try to buy moments after an NR and hope for the best. Occasionally I buy stocks to hold because I believe in the potential. GYR fit that catagory and I am holding. The fact that Bruce is an active trader in my opinion can only help this stock to stay liquid and obviously produces some degree of support as well resistance. He may very well be selling at the top but if he manages to recycle it back into the company that indeed is a show of his belief in the long term future of the company. His private placements have been at reasonable market conditions and thats fair. John

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