Just waiting for Olinghouse, now. This is my understanding that if Olinhouse permit is approved, Olinghouse's enterprise would allow at least a doubling of ALTA's last year gold production. Olinghouse itself could produce over 100,000 ounces per year, for at least five years... while last year's total production was about 40,000 ounces (this last number, I will have to verify). Olinghouse could help ALTA's bottom line for the last quarter of 1998 (may be even during 3rd quarter).
I am unfortunately out of ALTA at this stage and in RANGY (not a good move!). I was out of town for 5 days and could not follow this gold rise. I would have jumped in.
Stanley Lew. I also bought ALTA high in the past, in early 1997,... at 3.25 and managed NOT to sell when it was over four and... got out at 3... (I was a real beginner then)
A family member of mine bought at 3.5 in early February 1997 and held up to now... (not that great move either!). To recoup, he bought 3x the original amount at 1 3/8 in January (after seeing the double bottoming pattern), and sold 1/4 of his position at 2.5 Wednesday.
With gold, I learned that you are often not right! Impossible for me to pick up the low or high... therefore I buy half a position first and then double up if the gold stock drops... and then sell some when you have 20-50% profits on some of those shares. My "gold money" is now 50% RANGY and 50% cash. I did not do well this week... Oh! Well. Some of you guys are doing real good.
Good luck
Gaston |
