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Gold/Mining/Energy : Eaglecrest Explorations

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To: larry craye who wrote (15)	10/3/1996 8:31:00 PM
From: Richard Humphrey	of 639

Larry: I believe if you look at the timing of the last two private placements, you'll find the price slid to around the $2.20 mark both times. This was management manipulating the stock price. This can easily be done through going SHORT or LONG on the stock as they see fit. The placement must be within (I think?) 15% of the market price on close. This is the only way the stock exchange will approve such a placement. These private placements are the only source of equity financing without doing a stock market financing SMF. If another investor or group comes along that wants to throw money at the company, I'm sure you'll see the stock price move down again. There is a hold on these private placements for atleast one year. Eventually the company will procure enough money to fund their explorations and eventually the managment will want to make some money too! Therefore, you'll see the stock make a major move on GOOD assay results. I'm sure that will happen. This company is planning on proving up enough reserves to have a MAJOR mining company buy into the project or buy out the company and takeover the operation. EEL, I think at the $2.50 price is a GOOD buy. All the Best! Rick.

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