CANADIANS DISCOVER INTERNET STOCKS:
Junior Mining Companies Think It''s Voisey''s Bay in Cyberspace
Part I
SHfn USA News Room (Sarasota, FLA/SHfn/April 15) -- Gold Rush in
Cyberspace or Lost in Space? Some Canadian junior mining companies
are taking their cue from Australian mining companies, if not Yahoo! and
eBay. At least nine Aussie miners traded in their dynamite and deep
trenches for the World Wide Web, over the past two months. Never ones to
miss an "area play," Canadian juniors scramble from one hot zone to
another, even if it is only to keep their dream-child company alive for
another chance of striking it rich. If not for their shareholders, at least for
themselves. Diamonds were hot in 1994, copper-nickel-zinc had cache in
1995, gold had zing in 1996 and until Good Friday 1997, but now anything
that''s "online" sounds more precious than the rarest emeralds. One thing
is certain - the exploration companies love to play "follow the leader."
Bid.com could be this year''s Dia Met or Diamond Fields, but is it
possible the company might just as well be this year''s BRE-X Minerals?
Don''t think Vancouver-based mining companies aren''t up to their old
tricks - trying to exchange their paper for your cash. Some deals will
work, if only for a short time. The majority will leave you clean and
dry. It''s not limited to just mining companies, but also includes
perennial promise-breakers like Network Gaming [Vancouver - NGQ], which
couldn''t make a go of it, with their non-proprietary bingo gaming
machines on Indian reservations. What makes you think they can solve
their problems by slapping a new version of their same game on the
Internet? Stupidity, to begin with. The same losing shareholders, stuck
with a stagnant stock price throughout 1998 and until March 25th, are
not going to be willing whistle-blowers, when they can dump their shares
into the liquidity of this wink-and-a-nod company.
View the remainder of this article at:
stockhouse.com
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