Phoenix Metals U.S.A. - PMTU Message Board

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Gold/Mining/Energy : Phoenix Metals U.S.A. - PMTU

PMTU 25.79

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Oct 29 3:33 PM EDT

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To: banco$ who wrote (69)	1/23/1999 12:51:00 PM
From: micky	Read Replies (2) of 80

I have been following this (as well as many other) mining companies for several years. I share the concerns that many have expressed - about the substance behind the press releases that have supposedly been released about the company but are no where to be found except on their website, about the change in corporate location, about the background of the principals and their private investors, about the exclusivity and ownership of any process they are using, and other issues. There are something like 70,000,000 shares outstanding, of which less than 1% are in the public's hands. The rest are held by insiders, of which some seem to have a fairly uncertain background. There are a lot of sound mining companies around. Why would anyone invest in this one? IMO it seems very eerie.

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