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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (3419)	6/20/1999 5:02:00 PM
From: keith massey	Read Replies (1) \| Respond to of 4467

Something I just threw on another thread. This is the main reason I don't play OTC stocks. Ciao Don't bother sending my info on Canadian OTC stocks. I got burned badly on EAGI a couple years back because of the lack of filling laws with OTC companies and promised I would never play them again. When I got into EAGI at .25 they had 20 million shares out, $18 mill in the bank with no debt, 15 mining properties in 5 African countries and a 50/50 joint venture on a mine that contained 800,000 ounces of gold at a mining cost of $150. All of this info was taken from their official news releases and their web page. Sound fairly safe doesn't it. Almost like a dream come true investment? It was a good thing that I only bought a small chunk of the company. Within 3 weeks after I had invested the company hit .01 after it was halted. It turns EAGI loaned all of their money ($18 million) to KWG without informing investors. KWG went broke and couldn't pay it back. EAGI didn't have any money to keep up the mine leases and lost everything. I got out on the bounce and lost 50% of my investment. They went under officially a couple of months ago. If this company had been on the TSE or even the VSE this could never had happened. Best Regards KEITH