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Gold/Mining/Energy : BRE-X,BSR,ORL,CME,TGC,BYG,CVL,PCR,CBJ,EMT,SPQ,MSM,IRL,NC.

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To: Don craig who wrote (78)	5/6/1996 12:59:00 PM
From: Fred J Bealle	of 130

Don, Spider seems to be in accumulation phase again. After rereading the glorious slick Spider brochure, I can see how the April 18 1996 Ashton buyout was no surprise (Ashton did not like what they found in Kyle Lake #1: the diamonds they found in 1995 were down deep.) KWG/Spider bought Ashton's rights (for a million bucks!) Spider #3 (just west of Kyle lake) is being "negotiated" with a third party. This involves exploration & matching previous megabuck expenditure. Although I know some of the people involved in this prospect, and have a lump of the kimberlite somewhere, I cannot get too excited about the idea of a expensive deep diamond mine in that godforsaken soggy/frozen blackfly infested swamp. One should play this stock as a series of accumulation/rise/dist/fall cycles, and assume that it will come to nothing in the end. Buy low sell high. Now is a good time to accumulate. Bid it down. imho fred b PS, rumor has it that exploration by "two notable diamond explorers" will resume in June 96. So don't rush to buy.

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