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 4:00 PM EST

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To: helkel who wrote (8)	3/22/1998 11:06:00 AM
From: Carl Makela	Read Replies (1) of 52

To all, I too think gold is dead for the short term, 12-18 months. And I hope I'm right so that I can accumulate more shares of Echo Bay. IMHO, I believe that there will be a renewed flight to gold and other metals on a global level during the last quarter of 1999 primarily do to the social-economic uncertainty of the impending millennium. I personally do not hope for disaster and pandemonium, but it is hard for me to avoid thought of the probable implications of the year 2000 bug: queston: Would I want my money in my bank or brokerage account(s) on 31 Dec 99? answer: I think I'd take my cash from my accounts after every paycheck deposited starting in Sept and hold it at home until after the New Year. Then "if" the bank is open for business as usual on Monday the 3rd of Jan., I'll deposit it back. (inexpensive insurance tactic) eval: I don't think I'd be the only person doing this or thinking along these lines at that time. Unfortunately, I think it will happen in the markets as well and will cause a mass sell off. Won't the implications of having all this money converted into cash cause global monetary devaluation and a probable flight to hard assets? I am not an economist and this is only my opinion, but based on the above scenario, I am looking for a precious metals play (primarily gold). I've looked into purchasing Maple Leafs (holding bullion) as well as buying into precious metals mutual funds but they don't inspire me. I guess there isn't enough upside potential. I don't mind saying that I'm not looking for insurance from an economic disaster but that I want to take advantage of an opportunity like most anyone else. Last weekend I started graphing mining co.s and discovered Echo Bay as one of the most volatile movers to the price of gold over the past ten years. This is what I'm looking for. Unfortunately, I'm uncertain as to the current stability of the company today (S&P 500 delisting) and don't know if it can stay viable at this gold price for the next 12-18 months. Can its stock price perform with the same volatility when the price of gold soars in the last quarter of 1999. (there's the rub). Anyway, the plan is to have confidence in the stock and buy on dips to 1 3/4; then sell off over a projected range of $35-$40 per share in December of 1999, convert to Maple Leafs at probably $1000-$1200/oz. and see what happens after the millennium. I realize that to most of you this sounds crazy and pie-in-the-sky-ish but I do welcome any and all scrutiny and constructive criticism. Carl

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