MILL CITY MIY-V Message Board

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Gold/Mining/Energy : MILL CITY MIY-V

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To: Ronald P. Margraf Sr. who wrote (55)	2/15/1997 1:21:00 AM
From: Dennis (Hijacked)	of 707

Ron: I wondered the same thing. The way it stands now is: Macdonald......on their own Golden Hill (GHMC).....about 42% owned by Mill City about 58% owned by Macdonald Macdonald (MMP) and GHMC are the two involved in the Cuban play, whereas Mill City (MIY) is really just a by-stander (other than their interest in GHMC). MIY also has started drilling again (after about a year hiatus) on their diamond property in the NWT...this looked promising about 18 months ago as they did find many diamonds but had problems with their drilling (as I understand it). Also, MIY has some property in Indonesia or South America that they want to start drilling on soon... another iron in the fire. Well, if and when the MMP takeover is completed, MIY will have about a 14% interest in MMP. Now tell me, is that any better (or worse) than their 42% stake in GHMC? Like you say, if the Cuban results are so good, why would MIY want a SMALLER share in the play (if it is indeed a smaller stake). Anyway, it is getting frustrating... I've been holding onto MIY for many months now (in at 20 cents) and just when you think the price should be going up (results), it continues to move sideways or down. This is not increasing my retirement income at all... still having coffee at Macdonalds (not the mining company) at the seniors rate for awhile yet, it looks like!! Keep in touch Regards Dennis

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