John, interesting points. You seem to understand (more, or less) how junior spec plays work. If a property fails, you move to the next one. I think we all know and understand this. That is why the junior market is so speculative and volatile. If you want a sure investment, buy GICs. I do like your point about trading, when the stock drifts, buy it, when it runs take your profit. (gee, I wonder if that works with other stocks....)
Some juniors put more money in promotion than drilling. Bruce has been putting the money in the ground, all those geophysics in Okak, and drilling on both Okak and Harp weren't free.
Bruce does do most of the finances personally. The rules governing private placements make it difficult to open them up to the smaller investors. (if you remember back, Bruce tried to do this last year) You basically need $100,000 to invest. If you've got 100 grand, I'm sure Bruce could fit you in the next placement. Bruce does trade Gallery but, when Canaccord or Yorkton do a financing, do they do any different? Check RAN.VSE (Haywood), or CYP.VSE (Canaccord).
Some Recent Financings (none at your magic $0.40 level)
April 17/96 1,000,000 units at $0.75 (warrants @ $0.80)
April 30/97 1,560,000 units at $0.50 (warrants @ $0.60)
October 2/97 1,000,000 units at $0.50 (warrants @ $0.60)
Cheers,
Kent |
