As someone whose life -- financial, emotional and family -- is invested in the company, I can say without question this has been a very long and tough year. I would be lying if I said there haven't been moments when market conditions and the palpable cynicism weren't almost too much. But now things have changed, and they continue to do so. The first real sign came in the form of drill results from Lejano. And the market first over-reacted, then got serious. Then came the Bacon results, and the evidence was beginning to look seriously promising. Then, even if the rest of the world didn't care, I was pleased to see the Indonesian CoW signed. That's a serious jewel... for under the floorboards. Then more results geologic and surface results from Lejano. And the market seems still to be taking this seriously. (Yes, I believe it should, but this is another area where my opinion should carry limited weight.)So here we are, contemplating the next turn in the road. Is there another quick uptick around the corner? Just a question of timing. There have been many before, as there will almost certainly be again. For the players with the stomach and the attitude, you can do well timing a stock like this one... and, as you know, you can lose well too. Just not my cup of tea. From this side, there is noone here in senior management who is not focused on seeing at least a $10 stock, based on the fundamentals of the business. Whether western Santa Cruz is the play, I don't know. But with a little support from those two ladies I've mentioned -- Ms Nature and Ms Luck -- we'll pull it off before the year 2000. (Yes, and you can remind me of this then.)
For what it's worth.
Greg |
