I hope this will answer your question:
Kaiser divines meaning from press release
Montello Resources Ltd
MEO
Shares issued 35719337
1998-03-27 close $0.42
Monday Mar 30 1998
Also Redwood Resources Inc (RDW)
John Kaiser, writing in his Kaiser Bottom Fish Tracker of March 25, muses about
the March 25 press release issued by Alberta diamonds players Montello
Resources and Redwood. The two partners said they failed to intersect kimberlite
on their Jazz block, but have gathered some "extremely pertinent geological data."
While the explorers have not found joy in their latest outing, Mr Kaiser notes that
his Alberta diamonds heavyweight, Ashton Mining, has hit 23 kimberlites -- nine
of which were discovered during the winter drilling program. The California-based
letter writer complains that Montello's "verbose" 300-word press release "has that
peculiar style found in the annual reports of companies that have accomplished
very little and don't want to admit it." About half way through his 850-word
response to the Montello statement, Mr Kaiser crunches some numbers about
Montello's treasury and what it means. Part of the emerging picture, he says, is
that if Montello wants to begin a second round of exploration, it cannot count on
Redwood for more money until January 1, 1999. Mr Kaiser also suggest that
relations between the two companies could be better. All things considered, he
says, Montello gets downgraded to a hold, while Redwood is worth buying on
weakness.
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