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Gold/Mining/Energy : TSY -ASE Tuscany Resources.
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To: Carson J. Wynne who wrote (2)11/12/1997 10:31:00 PM
From: krl  Read Replies (2) of 70
 
Lots of volume is perhaps the understatment of the month. Yorkton
Securities recently did a 15,000,000 unit underwriting which
consisted of one common share plus a one half common share purchase
warrant. Therefore, there are now 7.5 mil. warrants out there
that can be exercised for 3.75 mil. common share for .35 on or
before oct.'98. Total shares currently outstanding is approx.
25.5-26.0 million. This company started out as a JCP on the ASE
and completed their major transaction by purchasing a producing
property in Hayter,Ab which was owned by one of their current
directors. Recently, they acquired the Benin property via the
purchase of 12.5% of a Benin incorporated company. This company
has very qualified management in J. McManus who is of recent
notoriety having propelled Vero Resources from a penny stock status
to over $7.00. Look for him to repeat with TSY but you must jump
in and close your eyes and hang on for the ride because it will
be wild and bumpy. The addition of Yorkton as an underwriter will
double the volatility of this stock as we have seen in the past
3 weeks. They are the great manipulators in penny stock oil plays
or any minor plays for that matter. I would suggest that they are
the facilitators of the massive volume that has transpired recently.
This will be a fun one to participate in but do your buying under
the .35 range. I would like to think the downside in about .20 but
with Yorkton involved it could go to $2.00 or it could go to .02.
Have fun. Don't invest your next mortgage payment tho.
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