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Gold/Mining/Energy : GITENNES Exploration (ase:GIT)
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To: Sudeep Naidoo who wrote (1011)9/12/1998 1:52:00 AM
From: snorkel  Read Replies (3) of 1092
 
Talked to Jerry today. He says they probally will be doing a joint venture to continue with the project. Sounds scarry to me. Haveing to dump some or most of a company in these conditions. Who looses???? The stockholders. I was scared this would happen. Git seems to be going to follow the path of the likes of ghe and countless others. Ghe is at 6 cents. It matters not if you have a gold find with 5 million oz if you have to give 50 or 70 percent away to continue drilling.He told me, and I quote...... Our gold find is NOT economical in these market conditions Gold price has to go up substantially..Unquote. He said they were not going to drill any more holes until the dollar went up. Some report about the 30 some holes already drilled will be out in 10 or 15 days or so.The question is,,, can they hang on until everything recovers? Looks to me like another 10 cent stock. Just my opinion.
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