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Gold/Mining/Energy : Celtic Minerals
CME 265.49+1.0%3:59 PM EDT
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To: Gil Kempenich who wrote (31)12/3/1996 9:27:00 PM
From: DON   of 69
 
Hi Gil:I am still hearing that there is some substance to the rumours but it could be some time before we hear anything public.The company may not deem the information worthy at this point,to release to the general public because of the limited nature of work completed on this property.They would want to correlate this information with other gelogical data,which may not be in their plans until next spring's exploration program.As I posted in an early reply,this is a whole new exploration area with very limited work done previousily.Unfortunately,that is the nature of this industry and in some climatic conditions,geological work is within a limited time frame,because of the area.To work this time of year, when you are having snow in some parts of the country,exploration becomes 20-30% more expensive.This definitely affects the bottom line financially.My guess is that the company will not bother until next spring as most of the companies in that area have completed basic work and for some I understand a work commitment will not start until next spring.Most juniors were just interested in the prospects for next year and just staked the land for that purpose.Gil,I would not count on the price rising based on the rumour.I would speculate that the company will try to raise the necessary exploration funds ,to explore the property in a proper manner.I hope this may shed some light on this question.Regards:don
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