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

To: Claude Cormier who wrote (1255)	6/29/2000 1:23:00 AM
From: Au Contraire	Read Replies (2) \| Respond to of 1321

I sort of agree with both of you. But in the early stages of almost any excitement you can throw market caps out the window until reality returns - example the ridiculous market caps we had in the recent hi tech hysteria. What we have here is the makings of a classic new drill hole discovery when the greed factor temporarily throws logic out of whack. These next assays will be extremely critical, and made even more so because of the long halt. It is difficult to say where and when the market will stabilize. Initially it will be a roller coaster.

To: Claude Cormier who wrote (1255)	6/29/2000 6:22:00 AM
From: Dan P	Read Replies (1) \| Respond to of 1321

Claude: I have been following this stock for 2+ years. How long have you? Information regarding the new discovery zone and the drill results subsequently is what has propelled the stock. Ask anyone who has followed the company for some time. I agree that the production decision is what originally got the stock going, however. There are examples of stocks, like Pacific Rim, which sells at C$5 or so, never having drilled a single hole. I think that the point Au Contraire makes is valid: market caps don't mean much during the developmental phase of projects like this. They temporarily become overvalued and then readjust. Of course, if they do have a monster and one or more major wants it, all bets are out the window. Let's wait for the drill results, which, I would surmise, should be out soon. Dan

To: Claude Cormier who wrote (1255)	6/29/2000 9:22:00 AM
From: Dan P	Read Replies (2) \| Respond to of 1321

Claude: I respectfully submit that I still find if very strange that a newsletter writer comments on stocks on the net whether or not he has previously recommended them or not. As you know, I am a subscriber to your letter, but am also a shareholder in IWA. I frankly resent any comments on your part that, whether you believe it or not, seem intended to help drive the stock price down, once it opens. I find that a significant conflict of interest. You are obviously free to do as you wish as far as the net is concerned. However, when it comes to your comments on stocks that I hold, I feel that I must speak up. Dan

To: Claude Cormier who wrote (1255)	6/29/2000 9:27:00 AM
From: Larry S.	Read Replies (2) \| Respond to of 1321

Claude, I tried to send this response last night but SI apparently closed down before I finished but it still seems appropriate this morning. I seldom post on company threads but I can't resist tonight. Most of my small position in IWA was taken after the announcement and after I became convinced that they had stumbled on to something with major potential. It never occurred to me that the announcement of the "application to the British Columbia Environmental Assessment Office to develop the Cariboo gold project" was of important significance except that, if completed, it could put a floor under the stock price if the potential of the new discovery evaporated. After reading your comments to Dan, I looked at a chart of IWA and the releases announcing the discovery of the bonanza ledge and the application and it seems clear to me that discovery was the stimulant for the rise in the stock price. I see the announcement of the application having some impact but of very limited significance. According to my records, it came after the price move was well underway. Perhaps we are both seeing what we want to see. I'm reminded of a chart that a gold fund manager presented at several mining conferences that I attended. It shows the price of stock rising during the initial exploration phase to a peak and then dropping back to a relative lower level when the ore body is defined (or off the bottom of the page if an ore body isn't defined). It shows the price remaining at the low level until the construction of a mine is initiated. The price is shown to then rise to a level determined by the profits from the completed mine. I would suggest to you that while the chart may be an oversimplification, it reflects the fact that during the early exploration phase (development phase for a technology company), a companies stock price is based on perceived potential and real assets (and earnings) become controlling only after the project becomes a success and is on it way to becoming a mine. I would further suggest to you that, with the discovery (accidental or whatever) of the ledge, IWA moved back to the initial exploration stage (if it had ever gotten out of it) and was being priced accordingly. Its price will reflect the potential that the market sees for the discovery. You seem to believe that the price of a stock is directly related to some value that can computed based on real assets and, since the discovery has only potential, you see it as having relatively limited value. You and Mr. Holland of the CDNX seem to be focused on the application and the fact that it wasn't preceded with the "required" study and drill indicated resource. I believe the market and majors that have shown an interest in the company/project are focused on the bonanza ledge and its potential and I believe the chart reflects this interest. Hopefully, we will learn more about the potential of the discovery very soon. The release to the assays for the 5 drill new holes drilled with the large drill should be very enlightening. I suspect these results, if released before the halt in trading is lifted will determine the direction of the price of the stock. FWIW, I used the charting capability found at: askresearch.com Cheers, Larry