Magnesium Alloy Corp. (MGAC.U - Cdn unlisted) Message Board

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Gold/Mining/Energy : Magnesium Alloy Corp. (MGAC.U - Cdn unlisted)

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To: Tom McIlwain who wrote (65)	10/31/1998 4:33:00 PM
From: GlobalMarine	Read Replies (2) of 103

Tom: I called Sally at MGAC yesterday; she siad the stock fell because all the pooled shares (some five million of them) became unrestricted a week ago and some holders were accordingly selling. She maintains the project is going well, though because the drilling is taking longer than anticipated (they're using a small exploratory dril, not a big production rig), there will be only one hole for pre-feasibility. The politial troubles in neighboring Democratic Congo haven't spilled over to our Congo. IMO, this project lives or dies on the drill results, and since if pre-feas. doesn't work out, the game's over because the cash in bank is only enough to complete pre-feas. I"m willing to continue holding, as the stock price is already the pits and who knows, maybe the drill results will be good once the drill gets to the carnallite layer. Happy Hallowe'en! Rand

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