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Gold/Mining/Energy : Golden Raven Resources Ltd (GVN)
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To: Robert Kirby who wrote (2805)12/7/1997 3:15:00 PM
From: Patrick Ives   of 3155
 
Robert,

I am sure everybody is disappointed by the share value of CYJ and I don't think you will see much change over the next couple of months, maybe a swing of a few cents in either direction on any given day. It appears that some people are panicking about the POG and are just wanting to get out of this sector of the market. The volume of shares traded every day has been low so we will eventually have a solid base of shareholders who won't be willing to give their shares away. I talked to Bill McKee on Friday and he told me work is proceeding as reported and that they are working everyday shoring up the old mine shafts but that it is a slow process because you have to be very careful as you can well imagine. I asked him about funding and he told me that it was not a problem and that they have the money to keep working away at this project and that they are still waiting for the permits to do the bulk sampling in Arizona and he said something about also looking at other things in Arizona. The share value of CYJ will not make a major move until they can get those drills turning and get some positive results. Bill said this area is very exciting because the ore grades can be and have been phenomenal. He said in the old days they didn't even report any assays under 1oz. a ton and that they used to always underestimate their results as the price of gold was locked in the low 30's. CYJ's neighbor BCMD has already found grades of 5oz. a ton and everybody should read Charger's account on the BCMD thread of his visit to the BCMD mine, it is very interesting. I personally will give this play a few more months because IMHO I think this sector will start to move again in the Spring and if BCMD is succesful then I am sure it will have a positive effect on CYJ.

Cheers,

Pat
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