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Gold/Mining/Energy : PLRN - OIL!!!
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To: FARRIS who wrote (466)1/1/1998 8:29:00 AM
From: Alan Whirlwind  Read Replies (1) of 476
 
Eric,
I take it that the purpose of the private placement was to generate cash for immediate mine renovation, refinery building, etc. Perhaps they believe the enhanced cash flow of such a move was worth it. Ten cents a share was a sorry price considering it only resulted in $600,000 for the company to spend. I would imagine it would go a long way in China though. Should the company actually come up with six million in profits in a year or two, that alone would keep prices gravitating up (as long as the rest of 50 million authorized don't start coming out of the woodwork too). Clifton Mining recently did a private placement. The stock fell from the .70s to .60 but is since much higher--strength in the silver price and other fundamentals such as a new listing on the BB is driving the stock now. --Alan
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