Grey Wolf GWX - was Cascade COL - ASE Message Board

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Gold/Mining/Energy : Grey Wolf GWX - was Cascade COL - ASE

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To: russet who wrote (59)	5/13/1999 6:07:00 PM
From: Robert T. Quasius	Read Replies (2) of 80

I think AXAS is ready to head up too. I recently boosted my holdings by more than 1000%. Actually, that wasn't too hard to do because the small amount of stock I bought at $9 was only worth about $1-1/2. I am now long 3500 shares, and waiting for a run-up to $8-10 this year. There was quite a bit of insider buying at prices much higher than $2. This stock is so grossly undervalued it is ridiculous. It is priced as if it is going BK, but I think this is now unlikely. AXAS managed basically break even cash flow during the last quarter of 1998, which had extremely low commodity prices. The refinancing was also a good indication, as a bank would hardly touch AXAS if they thought BK was imminent. As far as I can tell, the bank charged a high interest rate in return for investment risk, but if they thought BK was likely, they wouldn't even have done that. With the new prices, which are more of a historic norm, AXAS should thrive. Now, if we can only have some exploration successes, that would be like rocket fuel.

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