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Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE)
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To: Joseph LEE who wrote (119)5/15/1998 4:20:00 PM
From: Baywall   of 210
 
Joseph,

The 740,457 shares represents over 20% when added in with the current o/s shares. No market reaction has occurred. I would like to have these and other large holders keep Geodex a tight stock. This restricted supply will help the firm later on, when larger financing is required. I don't know who the creditors are, but it would be desirable that they be held by associated groups and/or principals.

Shares for debt is often a method through which principals or a new controlling group can obtain larger stock positions. In the future, private placements will occur to finance exploration. I wish that the stock will be held tightly to limit overhead supply and thus provide less hinderance to any price advances.

A higher stock price should exist. Exploration is not cheap. A higher stock price will depend on the potential of properties, initial exploration success and a return of optimism on the VSE.

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