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Gold/Mining/Energy : Fairmile Gold -- Ignore unavailable to you. Want to Upgrade?

To: Luce Wildebeest who wrote (4005)	11/19/1999 6:22:00 PM
From: Marcus Bernard	Read Replies (1) \| Respond to of 4057

Douglas, All of your questions can be answered by looking at their financial statements. Yes, they have a lot of assets, but they have capitalized most of their exploration costs and are going to amortize them in future periods. What you are looking at is a shell of a company with no cash, no assets, and a ton of liabilities. Don't be surprised if you see Steve leaving the company because even he knows that his time there is limited before they become insolvent. Even their business partners, Echo Bay, are in financial difficulty. It's like the blind leading the blind. If you have any sense, just ignore this stock and move onto more fruitful ventures. As everyone else, I got suckered in when I just got started investing after having received those free e-mail from that Chelekis fellow. After years of experience in this industry (and thousands of dollars lost on Fairmile), I have learned that it's best just to move on. If you have a substantial number of shares - sell and collect what cash you can obtain. If you don't, you can sell now or sell when they become insolvent. Just offset this tax loss with other capital gains you may have. If you look at the agreements signed with their joint ventures, you can ascertain that they have sold the bank. Even if there is a mountain of gold, Fairmile's portion is so small that they're not going to help you re-coup your losses. Best of luck!