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Gold/Mining/Energy : Global Platinum & Gold (GPGI)
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To: Tim Hall who wrote (9693)3/11/1999 3:10:00 PM
From: Ed Fishbaine  Read Replies (1) of 14226
 
Tim

You may or may not be right that insiders know about an impending news release. I tend to doubt it. We all know there will be news forthcoming promised by McKay but what that news will be is probably not yet available to anyone.

Alternatively:

1) desert sands companies are heating up. Mxam had a good news release and moved from below 10 cents to mid twenties. US Power recently moved from 4 cents and hit 20 cents and is trading around 15 cents. Birch mountain moved from 25 cents to 75 cents currently.
It looks like an extraction breaktrough is imminent. And one company doing it will result in piggybacking by all the others. I believe the current move up is just a scratch of the surface.

2) McKay's reported values are stunning and hardly believeable.However, he is not a hypster like Jensen. His track record as a solid and successful business man goes a long way to repairing the destroyed credibility of GPGI. There is reason to believe that it is quite possible that his average of between 4 and 5 ounces gold equivalent is in the ball park. USPS believes that it will be able to achieve 4-5 ounces net recoverable when it begins production.

3) It is pretty evident that the shorts have stopped selling and that some of the heavy holders who have been waiting for liquidity to unload have pulled their offers, at least for now. Possibly there is also short covering.

4) Purely speculative I speculate that there is a determined buyer or group accumulating. The pattern of buying over the past several weeks indicates intelligent buying. Why? Perhaps there is an effort to sop up whatever can be bought cheap before an acquisition or deal takes place. Or, perhaps a plan to finance with treasury stock is planned but the share price needs to be much higher to avoid unaceptable dilution. Therefore, an acquiring group might have struck a deal to take down a chunk of restricted treasury stock providing it can elevate the price to a specific level.

Ed
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