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Gold/Mining/Energy : Argosy Mining

AGO 85.01

-0.6%

Jan 16 3:59 PM EST

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To: John McDonald who wrote (83)	1/16/1997 10:09:00 AM
From: dan wynne	of 165

John - Probably none, short term. Assume they'll need at least 3 months to get trenching (assuming they start w trenching) on the property. in the shorter term, when they release reserve estimates in a month or two, the stock may drop a bit - it seems to on every stock that actually releases reserve estimates. A previous posting on this thread says there will be little drilling until march - further reason to expect the stock to sag. anecdotally - Yale Simpson told me they were doing a very big aquisition in December, of a really good project - this was it. Without giving me any detail he indicated that it was really of hight quality. Also - on November 6 (?) the stock spiked for a day or two, after an evening telecall that the company held with analysts and major shareholders, to tell them that Pukanec was a bust and Krem looked like a future mine. Given that these people, who got preferential info, pushed the stock briefly back up over $ 2, I think the stock is a good play.

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