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Gold/Mining/Energy : Argosy Mining

AGO 85.01

-0.6%

Jan 16 9:30 AM EST

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To: John McDonald who wrote (85)	1/20/1997 5:04:00 PM
From: Steven Coull	of 165

Tom, Dan, and John: I have been away for a few days. Yearly appraiser's instructors conference. The greek news was expected as scheduled. Looks like a good property but no real figures on the actual size of the ore body so no can calculate possible ozs of gold. They will firm up a lot of figures by the end of March. The Kremnica area we know is a go and the Pukanee area still holds a lot I think. But it will take time for them to do the proper mapping and get drilling again in Puk. Price is down but may just be general lower gold price is the cause. Still a good buy with lots of potential. I for one will hang in for at least another 6 months. If I had some unassigned cash I would buy more and use for the short term ride keeping my original holdings for the long. I still think this is an excellent bet on the long term. What do you all think? your patient cousin stevie.

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