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Gold/Mining/Energy : Corner Bay Silver (BAY.T) -- Ignore unavailable to you. Want to Upgrade?

To: ahhaha who wrote (214)	10/20/1999 4:48:00 AM
From: TheBusDriver	Read Replies (2) \| Respond to of 4409

Very good post. I agree with some of what you say especially about trading. I am not sure what you mean in the following statement: <It makes perfect sense. Unless the price of silver rises the return on this drilled prospect is marginal. It only represents stock price leverage if the POS rises substantially. Otherwise, it's shut-in with a front end discovery cost.> I hope you can expand on this. The strip ratio is expected to be far lower than normal for this mine, cost to mine the silver is expected to be around $1.5/oz. At $5 silver I don't understand how the prospect is marginal? I am not defending CC...he can do that pretty good himself but he is one of the more knowledgeable people around when it comes to evaluating junior mining companies. I think your method of trading makes sense but that is not what CC is about. The problem I have with considering my position in this stock right now is understanding why the price acted the way it did after the last news. At first I thought it was "sell the news" but as it has continued for the last several days I am not so sure. I am also not so sure that the reason is because the mine has suddenly become marginal based on additional reserves. Something is not making sense here or somebody knows something we don't. wayne

To: ahhaha who wrote (214)	10/20/1999 10:37:00 AM
From: Claude Cormier	Read Replies (1) \| Respond to of 4409

<<Unless the price of silver rises the return on this drilled prospect is marginal.>> <<I read the data and I wasn't impressed>> Well I am sure in that case, that no other mining situation will impressed you. Just to make sure your really understand this play, can you answer the following questions: 1) what will be (approx) the new mineable resources when the new calculation is out? 2) What will be the size and grade of the starter pit and what kind of strip ratio are we talking ? 3) What is your idea on the cost/ton of this operation... for the 1st 5 years... for the following years? 4) The deposit has both a silver chloride and a silver sulfide as its main minerals? What are they and what are their main characteristics? How to they compare to the only other heap leaching silver operation in the US ? Again will silver between $5-$6, this mid-size project appears to be one of the most profitable ever seen in the silver business. And no matter what is the psychology of the moment, if the economics of the project are such that they promise big cash flows relative to the Capex needed, then you can bet on a much higher price.

To: ahhaha who wrote (214)	10/21/1999 12:27:00 PM
From: koan	Respond to of 4409

ahhaha my friend - Well, we meet again: a fascinating fellow you are: In my opinion: a third of what you say is right, a third of what you say is wrong and a third of what you say is esoteric as best and pedantic at worst. Psychology versus fundamentals is like the nature/nurture argument - tough to separate. With regard to BAY, it has been moving, in my opinion, because it is a very good, large, low cost silver deposit run by some solid geologists who don't throw paper around (fundamental); and since it has, more or less proven , that deposit, psychological speculation has become more important, and the ODDS have increased that it will hold its own in this depressed mkt and improve dramatically with the rise of silver. PS I used to own a lot of it, but have since sold it for better leveraged companies, but I still consider it my favorite silver play for all of the above reasons. PSS I also mostly trade, but there are times e.g.arequipa when one should hold on to the bitter end (i.e. takeover)- Bay may very well fit in that category. Cheers.