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Gold/Mining/Energy : GITENNES Exploration (ase:GIT)
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To: Grant Stewart who wrote (967)7/6/1998 10:18:00 PM
From: Pete Mimmack  Read Replies (1) of 1092
 
Grant - Did talk to IR a week or so ago. They're still optimistic about the property and the future, in fact, they believe it should be a $10 stock. They were concerned about the last plunge until the large blocks crossed, then figured it was just someone manipulating it to do the deal. They did mention one of the blocks was probably a fund, as someone here had suggested.

Other items: $2 million cash in the bank. Finishing up assays on the final 8 drill holes, and are hoping for a resource estimate by mid to late July. They're in steady contact with several majors about the property and weighing options of JV or outright sale. Cambior has adjacent property, so that would probably produced the most synergy.

Sounds like a great buy to me. May even see a jump back to 2-3 by the end of the month, but I've been wrong before.

Pete

PS. To keep the miners happy in June, videotapes of the World Cup were being driven in "from town" every night - five hours away!
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