ATTENTION ALL EL MISTI INVESTORS (FROM AFDawn@AOL.com)
I have read many postings from El Misti investors who claim this stock has "gone nowhere," or "taught me not to buy penny stocks." A lot of you sound like you feel you've been burned. It is to those of you who have lost faith in El Misti that I would like to address first, since I know your patience must be very thin:
First of all, your odds of success with a "pennystock" are EXACTLY THE SAME AS with a "blue-chip" or "big-trading" stock. The only difference -- the KEY difference -- is that pennystocks move a lot more quickly than the big guys. One analogy would be that "pennystocks" are the equivalent of a game of blackjack, and "the big guys" are equivalent to a game of poker. You can have the same money dealt in both, only the blackjack game will end a lot quicker. I can back up this claim with TWO WORDS: Boston Market. Merrill Lynch, A.G. Edwards, and most of the big brokerage houses were pushing that grease a year ago, at $40 dollars per share. Their research teams had almost "no chances of decline" and the outlook was "as strong as Wal-mart." And where is Boston Market today? Two dollars!! So for those of you who want to play a long, boring game of poker, with a group of dreary old men with broken card-counters, then just sell all your pennystocks, walk into a big brokerage, forgive them for Boston Market (and the other disasters that were quietly swept under the doormat), and let them take your hand and your money and let them buy you whatever they say you should buy. Do you know what you are saying when you do that? You're saying, "I give up! I don't want to think on my own! I can't make my own decisions!" One final remark on this topic: If these brokers know where the big winners are, why do all but a handful drive a budget car?
Now let me move on, and specifically discuss El MISTI GOLD:
There is only ONE THING wrong with this company right now, and that is the investors themselves. As investors, you have to remember that YOU OWN A SHARE OF THE COMPANY. By taking the risk of investing in the company, you also have to take on the role of ACTING like you own a share of the company. What I mean by this is that instead of sitting around bashing the company (which is performing its operations excellently and HONESTLY, as you would know if you listened to the conference calls), you need to be moving around PROMOTING the company. You have to put your ego on the line and tell everyone you know about this company, and what it's looking for - word of mouth is a stock's greatest friend, and greatest enemy. As a shareholder, you need to treat it like a friend.
THE FACTS
Haven't all of you read El Misti's Investor Relation's Packet? To any of you who haven't, here is the list of the company's highlights:
June 1997: Completion of 32,000 metres of drilling and drill definition of 1.7 million ozs of gold equivalent.
August 1997: Geophysical analysis indicates significant new potential for mining site at Santa Rosa.
September 1997: Major new discovery at Sinchao confirmed. First 12 test holes all indicate economic grades with economic intersections averaging 54% of drill meterage. The continuity and tremendous size of overall discovery greatly encourages the company.
January 1998: $4.5 million financing completed with the issuance of $1.98 million in convertible debentures at 8% interest, convertible to equity at $0.30 per share, 5.7 million special warrants for proceeds of $1.7 million, 2,800,000 common shares to settle $840,000 of outstanding debts.
March 1998: Announced new financial support of Benitz & Partners Ltd. First financing is a US $2.0 million convertible note. The note will convert into units of one share at $0.50 and one warrant to purchase an additional share at $0.75. The note carries a forced conversion provision such that if the shares of the issue trade above $1.50 for 20 consecutive trading days, then (EMG) may force the conversion of the debentures and the exercise of the warrants. If the warrants are exceeded, they will add US $3.0 million to the financing.
March 1998: (EMG) entered into a commitment letter with two investment bankers to arrange sufficient equity and debt to allow the business plan of (EMG) to proceed.
April 1998: Drill program of 10,000 meters commences at Sinchao to test the 1200 x 500 meter epithermal and the 1300 x 900 meter porphyry targets.
June 1998: In its June 19 press release, (EMG) reports a HIGH GRADE GOLD INTERCEPT.
You see that at the end? HIGH GRADE GOLD INTERCEPT. The gold is there! It's just a matter of isolating the deposits, and pulling them up. And if you have any further doubt about the mining operation El Misti is running, listed here is a MARKET SUMMARY for you to learn from:
ú Peru has an extensive mining history dating back hundreds of years. Until recent years, Peru remained under-explored in modern terms due to restrictive laws prohibiting 100% foreign ownership of mining properties. With the change of those laws, modern mining technologies are being employed in Peru for the first time. The lack of sophisticated mining operations has left Peru a "gold mine" for new mining opportunities with enhanced modern recovery methods.
ú Major mining concerns, such as Newmont Mining Corp., Barrick Gold Corp., and Buenaventure of Peru, among many others, are making major investments and finding profitable operations in Peru. Peru is attractive because the production costs of an ounce of gold can be less than $100 per ounce. The worldwide average cost for operating a gold mine is about $260 per ounce. There is roughly a 1,000-ton negative imbalance between the amount of gold mined and the demand last year.
ú The price of gold has been declining for many years. Last fall, the price of gold dropped to around $300 per ounce. With its low per-ounce production costs, there seems to have been a "gold rush" to Peru. Major mining companies have acquired several "juniors" at prices between C$1 billion and C$800 million.
ú Exclusive of its newly optioned Colpayoj and Chamis properties, the calculated resource value of (EMG)'s properties in situ value of "gold equivalent" potential (with silver, copper and zinc factored in) is US $871 million.
E-MAIL ME: AFDawn@AOL.COM
AND SEND ME INSTANT MESSAGES!
I have up to the minute information on El Misti's conference calls, press releases, and corporate activity. Also, as you can see, I love to talk.
Instead of listening to JUST the negatives, I invite all of you to e-mail me so I can give you EVERYTHING.
As shareholders, lets work together and then throw one hell of a party when El Misti skyrockets! |
