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Gold/Mining/Energy : Lyon Lake Mines Ltd

LLL 245.17

-0.4%

Jun 28 5:00 PM EST

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To: TrueScouse who wrote (446)	11/10/1998 10:32:00 AM
From: Claude Cormier	Read Replies (3) of 520

<<I see the action since Sept 1 quite differently, with the recent correction being a possible 50% retracement from the Sept 1 uptrend. Based on that theory we should test the recent high from here.>> EWT guys think this move from Sept 1 is an ABC that will get the XAU to 95-115 (we are at 78). Then the collapse will start and move the XAU to 35. Although I find this hard to believe, given the fundamentals....these guys have been right on gold since the top in 1996. So I am optimistic but prudent. <<Now it is clear that they will not only survive the downturn but also prosper in the next bull market.>> Agreed. But they will need higher prices to get finance without to much dillution. For the moment in this current environment and until gold makes a $50 up move....the only miners that are sure to survive are the ones that have a lot of cash, no debt, and/or generating huge cash flows.

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