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Gold/Mining/Energy : ATLANTA GOLD CORP. (TSE:AAG)
TWG 3.860-5.1%3:59 PM EST
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To: Curtis Dennis who wrote (102)12/18/1996 7:04:00 PM
From: Charles Kalb   of 495
 
Hi Curtis, I also took the plunge today and bought AAG. Now own both AAG and VSY. I wanted to increase my overall position while prices were low and decrease my cost basis in NewCo. As a back-of-the-envelope exercise I looked at investing a given dollar amount into AAG or VSY to see if I could see where the greatest "bang for the buck" lay. Using last Friday's closing ask prices I estimated that a given dollar investment would result in about 17% fewer shares in NewCo after the merger if the money was put now into AAG instead of VSY; however, one would also end up with a bunch of shares in the new Atlanta Gold company holding the Idaho gold property. In my case I liked this extra diversification and hedge.

I wouldn't say that there is resistance at the 0.60 level. I looked at the last several weeks performance as more of a reassuring trading range which seemed to be defining the low point for this year. Isn't a resistance level a point where a stock keeps getting beaten back to significantly lower levels? This looks more like a bullish bottoming out phase to me and is the reason I bought today. I think we will see a nice saucer shape evolving in the chart soon.

Good luck to you and everyone in VSY/AAG.

Charles
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