Geodex Resources - GXM.V (was Agate Bay ABE) Message Board

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Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE)

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To: fivedollar who wrote (156)	6/22/1998 5:05:00 PM
From: Baywall	Read Replies (1) of 210

Addendum: "One of the most common experiences is that speculative investors get emotionally attached to their stocks and thus almost give them superhuman capabilities. For example, an investor may own 5000 shares of XYZ at 20 cents and already have decided that they will sell at $5.00 because this is what they have been told it is capable of. The stock runs to $1.50 on heavy volume but the investor has decided in advance to hold. Ignoring the possibility that XYZ Ventures may not exceed $1.50, he holds his position and the stock begins to decline. Quoted from pg.46 The Investing Edge. The junior market plays a role. Many deposits were found by juniors who put up the risk capital. The deal with Cyprus may have been viewed by some to be expensive. Questions of financing and excessive dilution existed. Management went forward with this project confident financing would be obtained. They may have thought that prices would later increase upon proving up the deposit, and thus later financing would have a lesser effect on dilution. At best the project may have been too large, but they wanted an advanced stage project. Previous poor "grassroots" results in May 1996 may have played a role in selecting an advanced project. The above are my guesses only. I don't know the circumstances of Redell Mining, but it would be difficult to compare each firm which rollbacks and issues share for debt financing with Redell. What did the insider reports say when the stock was at $1.30, that hinted of lying? What will happen after July 7/98? Inmet legally has not defaulted and Kaiser notes other intermediate firms have been looking. Can Geodex find another JV partner? What about financing and dilution issues? We will have answers to one or all. If I lose, so be it. I signed the brokerage agreement fully knowing the nature and risks involved speculating in the stock market. LVL

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