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Gold/Mining/Energy : Int'l Wayside Gold Mines Ltd (IWA-VSE) -- Ignore unavailable to you. Want to Upgrade?

To: I Am Sandman who wrote (631)	4/2/2000 7:10:00 PM
From: Little Joe	Read Replies (1) \| Respond to of 1321

Latest From Speculativestocks.com "On Friday, IWA closed up .29 at $1.40. Many may think this is now time to take a profit and while we would ordinarily normally agree, especially since we profiled IWA at $0.18, we think enough information is coming out here to warrant staying the course. We can compare it to a baseball anology of a home run. You have hit the ball (purchased the stock) seen it fly towards the bleachers and this is where you are now standing. The results that have come out suggest the ball is going into the bleachers for a home run. When this happens, the only thing to do is to casually trot around the bases until you get to home base again and collect the prize. They are drilling two shifts on the mineralized zone and there appears to be sufficent evidence of mineralization along the entire core lengths so far brought out of the ground. This mineralization ranges from massive sulphides that are over 50% of the core to some lesser values. Until the cores are logged and further assays are released though, everything is speculation as to how good the grades are going to be, but judging by the smiles on the faces of the two on-site geologists, they look like the proverbial cats that have just eaten the canary, with whipped cream yet. The length of the mineralisation so far looks to be in every drill core and appears to show up in the sludge assays that have been released to date. This mineralization starts in the footwall of the BC Vein and extends towards the hangingwall of the Canusa Vein, approximately 800ft away. Now this is not to suggest it goes that far as to date, there appears to have been no drilling done off the existing line of strike. However, there is also no reason to suggest it doesn't at this point either. If so, it will delineate the possible width of the zone, leaving only strike and depth to be determined. Now we have ( for the first time ever believe us ) actually logged onto the Kitco Chat room to see what the 'experts' are saying about IWA. Well let us be gracious and say we will not be logging on again. I think one would need waders to get through it. Well they do say it is a bull market after all. But this is an update about IWA. The mineralization starts at approximately 105ft and extends to depth. All holes so far completed and logged, have been stopped in mineralization except for one that was drilled down the footwall of the BC Vein. This is more than likely the BC Vein edge although the mineralization appears to be at least 80ft. Anyone calling this a scam more than likely does not have shares in the company and there is a little envy showing. This is not to say the stock price will not be volatile as rumors flow through the chat rooms. They are drilling at three different angles at each drill location and the cores are stacking up like cordwood, waiting to be logged, cut and sent out for assay. This will not last long as we suspect they will concentrate on the job, which is to see how far this extends in all directions and to ensure that only accurate information is disseminated. We would more than likely find they will also move another drill onto the location to get some larger core. One of the concerns about assaying the core we would have, is while the core recovery is good, it is not 100%. This means that some of the material is being washed into the sludge during drilling. After all if it isn't in the core it has to be somewhere and the sludge bag is the only other logical place it is going to be. There may also be some loss done in the cutting. Much of the material is very friable and is easily destroyed in both the drilling and cutting. If there were not the restrictions placed upon samples at this stage, requiring half the core be saved, we believe the geologists would have preferred to assay the whole core. This may take place in the future as the deposit gets developed further. The core assays and the sludge assays may not then coincide as to values. In the peek at the Kitco chatroom, we saw that one pundit had stated that releasing the sludge assays was part of a scam and that nothing could be trusted. Well certainly in the pre Bre-Ex climate this may have had some validity, but post Bre-Ex we think it makes good sense to release all the information, good or bad, and this is what Wayside is doing. If there is a correlation between the sludge and the core, then it should also be correlated to the percentage of core recovery so an accurate assessment can be made. We would suspect, having looked at the assays released that the correlation between sludge and core assays will vary from 1 to 1 to some percentage thereof, especially since there will not always be 100% core recovery. This still makes the sludge assays valid and even though they will not be accepted by the exchange, any attempt to refute them is just smoke in our opinion. It appears that a number of majors are already interested in what is occurring and it has not taken long for staking in the area to get under way. We understand Hudsons Bay Mining has staked an adjoining hillside and we are sure there are others who have yet to surface. As the speculation mounts we will also see the big buyers come in. This is because many institutions are not permitted to buy stocks under certain values. So when it hit $1.00 some big players arrived. If and/or when it hits $2.00, more larger players will step up on the bid and this will bring in more buying. It is an acknowledged fact that price rise more than news begets buying, even though news causes the start of the price rise. ( a conundrum ) In the event a major makes a play, this will bring in even more buying and so a larger price spike. As this appears to have the makings of a major discovery, we are not going to speculate just where it will end up and right now we will suggest there is a lot of calculating going on by many people as to just what the value is based upon the limited drilling and assays so far. We will say that we believe IWA is still a buy at the current price, although we have no clear idea as to how far it will move because gold has once again dropped back under $280. In our view, if gold was trading over $300, this stock would be trading at $4 - $5. As always, while the information presented is believed reliable, there are no guarantees and any action taken on this information is at the sole risk of the reader. BJ Speculative Stocks"