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Gold/Mining/Energy : MacMillan Gold

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To: Simon P. Schrijver who wrote (28)	11/12/1997 11:08:00 AM
From: Phil Cressman	Read Replies (1) of 43

I have heard some rumours about positive developments at MGO (Mishi) and have been looking into the relationships between MGO, Windarra (owns 46% of MGO) and Westward (76% owned by Windarra. Macmillan holds the right to 40% royalty on the MGO property and has entered into option agreements with Westward on their Peru property. Given that Macmillan did a small private placement at $ .45 in November and has at least three interesting properties in play right now I think this company has the least downside of the three reviewed. Trading volume also averages higher than either of it's partners. I am looking at taking a position and my only hesitation is due to the lack of promotion and awarness in the street about this company. It appears that the management has continued to complete good deals to continue exploration on well selected properties and this is probably justification for taking a position with expectation of positive results within the next three to six months if not sooner! I am heavily invested right now in Vencan Gold (VCG-M)and will have to count on some improvement in some of my weak holdings to free up capital to switch into MMG before the end of November.

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