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Gold/Mining/Energy : Kensington Resources Ltd. (V.KRT) * Diamond in the rough!
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To: Richard Cushnie who wrote (1893)5/29/1998 8:12:00 PM
From: Mike G  Read Replies (2) of 5206
 
I wonder who traded the 92000 block of shares. Cam indicated that he thought DeBeers might be picking up everything they possibly can at bargain prices. He said they won't know until they send out the information to the share holders at the upcoming AGM. Some calculations of this stock in conservative fashion put it's dollar value for Kensingtons 30% ownership at $30.00 per share. There also has been a hint that Monopros may have fixed the results in order to shake Kensington out of their 30%. The 2 players they are in with are giants, and can wait a long time, maybe out waiting Kensington until they lose out, then the 2 remaining players go in and develop the site. They would have 30% more if they shake KRT off.

The other problem has been the Bre-X symptom. Last year in the spring, the VSE was 1100 points, and the year before it was 1400 points. Since Bre-X, it has been completely flat, around 600 points. The irony is that Bre-X was never listed on the VSE, it was on the ASE, and the TSE. Unfortunately this has made it extremely difficult for KRT to raise money in the PP. In fact it has been extremely difficult for any junior mining company to raise money, even though there is good value there. We just need one legitimate very valuable find to come along, and then maybe the Bre-X symptoms will disappear.

Just my point of view,

Mike G
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