Bishop says Virgen sale a survival deal
Gitennes Exploration Inc GIT
Shares issued 26,255,831 Jan 7 close $0.26
Fri 8 Jan 99 In the News
Bob Bishop, writing in the Dec. 15, 1998 Gold Mining Stock Report, says
Gitennes, 21 cents at the time of his report, should enjoy a bounce in
January. Mr. Bishop recommended Gitennes in December 1994 at 85 cents,
again in April 1995, also at 85 cents, and in June 1996 at 94 cents.
Gitennes peaked at $9 on April 7, 1997. In the current report, Mr. Bishop
notes a proposed deal with Cambior involving the sale of rights to the
400,000-ounce Virgen gold property will result in an infusion of
$2.50-million (U.S.) into the Gitennes treasury, with an additional
$4.5-million to be paid over the next 24 months. "It is fair to describe it
as a survival deal, and as Gitennes's share price suggests, it is being
viewed as a tax loss by many who own it," Mr. Bishop comments.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
