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Gold/Mining/Energy : Global Platinum & Gold (GPGI)
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To: Scott Wheeler who wrote (8201)11/4/1998 4:47:00 PM
From: Ed Fishbaine  Read Replies (2) of 14226
 
Scott

Is it optimism, a polyanish bent, or a professional tendency to protect the lame, bumbling and marginally adequate which leads you to your defense of Jensen et al? A CEO cannot run a company from 700 miles away and know what is going on. Also he would have to be competent to understand what is going on even if he was on site. The quantity of unimaginable error which has pervaded the mill operation is a story which will be told later on, after GPGI is at $50 per share. And it will be hard to believe.
For the nonce McKay is running the show and his middle name is competence.

My illness is excessive optimism and seeing the silver lining. This leads me to the thought that had Jensen et al been competent when the shares were $2+ I would hold far fewer shares than I do. I also hope the shorts drive the price to 10 cents from here because then I will really plow in the cash. Noone can know if 23 cents was the bottom. My guess is that it is not. There are shorts who have killed all the other desert sand companies and they are convinced that GPGI is just another patsy. Ultimately they will be killed but not without a fight. Tell me who was on the sell side of the 170,000 shares today where there was no movement in the price? Was it longs? I doubt it. It was shorts protecting themselves. This makes me glad and I hope they have plenty of dollars to drive the price down. To the extent that they do there will be a spike to the upside when McKay starts producing.

I admire your supportive attitude. You are probably an effective psychotherapist.

Regards, Ed
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