Echo Bay Mines (ECO) AMEX Message Board

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Microcap & Penny Stocks : Echo Bay Mines (ECO) AMEX

ECO 35.56

+4.0%

Oct 31 9:30 AM EST

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To: Matt Nickels who wrote (2)	2/6/1998 9:52:00 AM
From: B Hamilton	Read Replies (1) of 52

Echo Bay is in trouble right now. They have sold forward about 80% of their 1998 gold for $330 /oz. (somewhere close to $330). When they got pulled from the S&P 500 the price dropped down to 1 1/4. Echo Bay has some heavy losses do to the shut down of the Lupin mine, and the Alaska project that they pulled out of. But, on a positive note, they have partnerships in the Russian Far East, where there is much "low cost" gold. They also have increased their silver production while reducing their gold production. Mining companies can be just as able to change as any other type of company. IMHO, It may not be the time to buy into Echo Bay as there are more solid companies to invest in. But, if the price of gold does move up this stock will soar. By the way I am a holder of about 6,000 shares. Brien Hamilton

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