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Gold/Mining/Energy : CARMANAH RESOURCES LTD ( CKM - TSE )
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To: Neil who wrote (215)7/28/1998 9:06:00 AM
From: MrsNose  Read Replies (1) of 269
 
From today's Financial Post:
CKM down .15 to .98, on volume of 761,200 shares.
Shares of the oil and gas exploration company continue to fall.
With volume reaching more than triple normal trading, the company issued a release yesterday about its Camar Field, which is offshore of Java. It said that its drilling program was still on schedule. However, it did not appease investors, who drove the stock down to a 52-week intraday low of .90 yesterday.
"They're trying to stem the bleeding," said Paul Beique, an analyst with Dundee Securities Corp.
Beique still recommends Carmanah as a "buy", noting the company's market capitalization is now $50 million. "Their assets are worth a lot more than that," he said.

All the best,
Margie
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