To many post to read this could already be old news but I only received it last night. Jim
Kaiser says results keep Veladero alive
Argentina Gold Corp ARP
Shares issued 33,113,389 Nov 2 close $3.31
Mon 2 Nov 98 In the News
John Kaiser, writing in a Kaiser Express dated Nov. 2, 1998, says Argentina
Gold's further results from Hole No. 84 released on October 29 were good
enough to indicate that its Veladero property in Argentina was not a
one-hole wonder. Mr. Kaiser, however, critiques the company's strategy of
releasing the results in a two-step manner -- first good, then not so good.
This had the market considering whether Argentina Gold was trying too hard
to control the flow of news, he opines. The first results were good enough
to send the stock soaring from its $2.75 opening to a close of $3.47 on a
volume of 4.69 million shares. The second set released at the end of the
day did not enthuse the market nearly so much, and its share price dropped
50 cents on Oct. 30 to a close of $2.97 on a volume of 2.3 million shares.
For his part, Mr. Kaiser is willing to stop short of a scolding, believing
Argentina's staggering of the news was innocent enough based on
management's concerns about the unauthorized release of information.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com |
