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Gold/Mining/Energy : NOVAWEST RESOURCES INC. (NVE.v) -- Ignore unavailable to you. Want to Upgrade?

To: Barry Cox who wrote (1377)	6/30/1999 5:16:00 PM
From: Mike Campagna	Respond to of 1434

Barry: Thanks for the insightful post........lots to ponder on that one. I agree in principle with what you are saying......hey read my posts for the last 3 years .........I have faith in this management, otherwise I'd be long gone. I have followed Nuinsco for a bit. I guess where NVE differs (and I may be way off here), but I seem to recall, a lot of information flow around the time of the offering (perhaps it was later) as to where the proceeds would go. Nothing specific, but at least drilling was planned. We, on the other hand have NO idea, what's planned. I would love to see something from NVE specifying where the drills are and on what date they start turning.........results!! That's the name of this game. Lord knows we're sitting on the properties to do something substantial. You're right......"no easy answer". Interesting that "management held 27% of the shares, and indicated they would fully subscribe" Didn't know that. Any idea what management holds here, and will they also fully subscribe? As for juniors having a hard time financing......I agree, but the ones that are churning out results don't have any problems.......tell that to Manhatten. I suspect they are grooming that one for a take over. As to your questions......... Faith in management........YUP Will the money invested now, protect whats already invested? hmmmmm Tough one.....whats protecting whats already invested NOW? at .28 cents....not much. Perhaps that should read "minimize whats already lost", as opposed to already invested. I'm looking to management to protect whats already invested, not my own wallet. Will it help attract outside capital?....probably not. RESULTS attract outside capital, not more shareholder funding. Hey we're in this deep enuf already. Worthwhile to keep the co afloat, until the tide turns. Absolutely, but I suggest it already has turned considerably (read todays Financial Post - ASIA REVIVAL LIFTS COMMODITIES. Right on the front page. It says "it will most likely be nickel, base metals, zinc that will experience the largest gains"), and unfortunately we have not been part of it. If all we're doing is "keeping afloat", perhaps the tide will flow right over us. On the other hand, if we are aggressivly WORKING the properties, and not just collecting and staking them, hoping the minerals will just jump out of the ground, then YUP......you got my vote. Again.......results, plans, structure......still havn't see any as of late. Should they let their shares go, and get out of the speculative game? Nope.....thats what this ones all about. But if the company cannot prove the speculation worth the gamble, then perhaps one merely shifts the capital to a speculative venture that is showing it is, until such time as the company shows its worthiness of someone else's hard earned dollars. The company MUST justify its request for more money......they can't just expect the shareholders to keep footing the bill for non performance.Only the Federal Government can get away with that:) You said it in your last paragraph........"outside investors are not prepared to commit large sums of money at this time" My question is HOW COME?......THEY WILL GIVE BOODLES OF IT TO A MANHATTEN. RESULTS!!!RESULTS!!! They put their drill bits where there pocketbook was, and low and behold. DO NOT confuse that with flipping, but after the 3+ years I've held this one, I think I have a right to say that. so.......like the Post article says......."lets see some of those base metal gains" or at least an attempt to get at them. Hopefully we won't buy any more property until we do something CONCRETE with the ones we own. What ever happend to the flurry of activeity in Northern Quebec this spring? We all know we're sitting on a potential winner here. Its up to management to prove it. Hey Barry, thanks for the insights.....ya know they are always appreciated. Mike