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Gold/Mining/Energy : Plata Mining Limited (PMT.A)
PMT 12.040.0%Oct 31 9:30 AM EST
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To: j.oil who wrote (11)1/24/1999 10:30:00 AM
From: spinner  Read Replies (1) of 68
 
I spoke with one friend who was at the conference. I hope to hear more today. He said that everything was presented and answer clearly and that most of the people there were brokers or representatives of investment groups. I asked him if there was anything said or any unanswered questions that would cause him to doubt that the price of this company will keep rising as it has for the past nine days. He said no and from what he could see by the end of the meeting people were planning to take bigger positions.

I am personally impressed with the direction the company has taken in the past year and this recent development fits perfectly with the plan that they outlined last year. After seeing the way the gold market has gone and the way that the paper traders have pounded gold prices, Plata decided to focus strictly upon open-pit oxide host type deposits and to mine where they could still make over $100 an oz even at today's prices. As they are as well connected in Argentina as anyone could possibly be it seems, this strategy should work easily for them. Dr. Ricardo Auriemma is highly respected in the country and will have many opportunities to pick up several of these properties that have seen their funding arrangements and joint venture promises dissipate as a result of the devastation the gold market has experienced.

I think that Plata will be the next Argentina Gold in that it will start gaining much more attention from the seniors now that they are free of the agreement with Explodesa.
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