Abacus Minerals Corporation (V.AMC) Message Board

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Gold/Mining/Energy : Abacus Minerals Corporation (V.AMC)

AMC 2.590

+3.0%

Nov 6 3:59 PM EST

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To: Mr.Staya who wrote (102)	5/9/1998 4:15:00 PM
From: John Fairchild	Read Replies (1) of 397

3rd highest trader on the VSE this week. This weeks Northern Miner reports: "Abacus hits hot values at La Manchuria" The article is basically a copy of last weeks NR but it also makes mention of the drilling location. "The drill holes were collared 75 meters apart in order to test areas where trenching returned values as high as 1.18 grams gold and 51.77 grams silver over a strike length of 70 meters." I have no idea where they got those numbers from. According to the trench plan posted on their web page the east side of trench 1 where they were drilling holes 1 and 2 (from what I understand) is 110 m at 1.48 g/t Au and 57.7 g/t Ag. They also mention AMC under their Western Market weekly summary. Well this is definitely going to be an interesting week for AMC. I am trying to get a handle on what the share price will do under a worse case or best case scenarios. First of all I would be very surprised if they did not come up with anything significant in the next 5 holes. But if that did happen I am guessing that we would drop to about .50? If however we have a similar hit in one of the remaining holes we will see $1.00. If we hit on several holes and a deep one then we could be upwards of $3.00 or more. I normally try to keep projections to myself but quite frankly I am very surprised that we are trading as low as we are given the risk to reward ratio. When i originally saw the results I would have chased this stock to $1.00 without a second thought. John

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