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Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE)
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To: Joseph LEE who wrote (129)5/19/1998 4:40:00 PM
From: Baywall   of 210
 
Joseph,

I think what you refer to is called a "selling climax". More conservative investors may wait until the price rises and crosses a well-defined trendline.

The current price is at the area the principals will finance. I believe that 15 cents is the minimum allowed by regulation. Recent trading volumes have dried up, maybe a good sign. Those who wanted out have left, in my opinion.

In talking with management and in their information circular, they expressed a desire to obtain a measure of control. This was to facilitate the development of the company in an orderly fashion.

Thus I feel that the share for debt financing mostly involved management. If any "outside" creditors do exist, management's desire to keep the stock tight and retain significant control probably resulted in restrictions on these shares. For all shareholders sake we would not want big holders prematurely selling their stock.

Investors who purchased stock at higher prices may wish to sell should the price rise. I feel that price sensitivity will be maintained until a major supply level is reached. This is a guess only. Any favorable news can have the potential to develope sufficient demand to push through these supply levels.

Currently I am waiting patiently. My purchases are complete for the time being.

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