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Gold/Mining/Energy : Argosy Mining

AGO 87.83

+2.3%

2:06 PM EST

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To: Eric Rojas who wrote (22)	10/30/1996 12:38:00 PM
From: Ron Pitts	of 165

Eric, I am for the most part a very simple cuss, In the case of Arogsey as well as AZS. I am of the opinion that both companys are trying to define the primiters of there respective deposites while moveing towards the heart of the matter at the same time. Picture your self in a dark room feeling your way around going forward as well as feeling to your sides, slow progress to be sure but nessary. I own AGO. at around 2.10-2.20 US. dollars per share so at this time my 7,000 shares are getting there and my ass kicked. The current results are a help in seeing the future here but we need much more info over the next 6 weeks we will know a lot more. between now and then I pull the triger as for now I think the market is very hard to move on the up side in light of tax saleing this time of the year, and when gold at least for now is tradeing in a 5.00 dollar range. As for your interpatation of the newest drill results, I think you read them well I see the same thing for the moment but feel the next round or two will inhance this project a lot . I expect to be buying at around .90 cents US. over the next month. At the current time I see very little down side to this stock. Ron Pitts

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