To: Greg Ehman who wrote (2862 ) 4/5/2000 2:22:00 PM From: russwinter Read Replies (1) | Respond to of 3065
I think the time has passed for Terrell to take the tech route. Examples of three recent gold to e commerce pump and dumps: Romarco from 85 to 1.60, now 95. Greystar from 70 to 2.00, down to 1.00, Battlefield a pump and dump rumor only, 7 cents to 22 cents, back down to 10 cents. Might have worked a month ago, but now he's going to have to concentrate on exploration. There are about six or eight holes that need to be drilled to determine Hwini- Butre's viability. Terrell is terrified of doing this, so he just redrills the same old holes at different angles. This accomplishes nothing and just wastes cash. It may well be that the proper holes turn up empty. So be it. Then attention could be directed to the rest of the H-B concession. Perhaps deposits found there that could create an economic project. After all Ghana is pretty good gold country. Would that be money thrown away? Possibly, but that's what exploration companies do, throw the dice. Otherwise buy a T-Bill (which is sort of what Terrell has done). It's time to forget about internet plays, heck they don't even run an exploration company very well, bring in some talent and go find out what may be there. Get on with it, or put this project out of it's misery. CRU would like to have it. In the meantime it's time to batten down the hatches and take a salary cut (to 75,000). I would be willing to give management or new management a nice new stock option plan at 1.50. $210,000 in this climate is absurd. Elizabeth's question about who would run this company is a legitimate one. I can only say that I've been talking confidentially with some big names in the field about that very thing. It's still a work in progress. Another possibility is a merger or combination with another company with strong management and prospects. Of course something concrete needs to be proposed or there is no proxy challenge. That's a given. Apparently there are several big institutions still stuck in the stock and they will be the key. As smaller shareholders we can only assist the process as we certainly can't afford a proxy challenge ourselves.