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

To: Elizabeth Andrews who wrote (1572)	10/31/2000 10:48:26 AM
From: TheBusDriver	Read Replies (1) \| Respond to of 4409

<<my point is and has been about most of these junior companies is the lack of thought about the exit path for shareholders>> Well, I guess so. But I would think that from the companies perspective and exit path is not their responsibility, they want investor in for the long haul, or am I missing your point? <<The feasibility study only gets us to second base in my opinion and there's no Babe in sight to take it out.>> At least no home run hitter than we know of. We would be the last to know I think. So far BAY's rise and fall is a mirror of MAN. Maybe not for the same reasons but pretty similar ones. wayne

To: Elizabeth Andrews who wrote (1572)	10/31/2000 11:06:18 AM
From: russwinter	Read Replies (2) \| Respond to of 4409

BAY deserves credit (to date) for proving up an excellent deposit without dilution. I'm sure their game plan was to be able to raise more money about now at much richer prices. Unfortunately the "market" has reacted in now all too familiar pattern, by failing to reward success no matter how excellent. The outfits like BAY (and I would also mention MFL), that need more capital for feasibility studies and drilling on quality deposits need to react to the horrible feedback mechanism that the "so called" market has been giving. The bottom line is that there is no capital market in PM mining now. It has totally and utterly collapsed. As a result watch what happens in about two or three years when reserve quality has severely deteriorated for the majority of the majors and mid tiers. And where will they find the ready made deposits? Loaded question, but I think every reader here knows the answer. You can almost count such deposits on less than two hands. Under those circumstances what is the best course of action. 1. Sell the deposit: I'm guessing that the price assumptions have been lowered to 4.75. Therefore, selling the deposit right now probably makes no sense, unless there is a very motivated buyer. 2. Raising money to do a feasibility study that will not translate into higher stock prices (and thus lower capital costs) should be out too. I also feel that such a study will not translate into a higher takeout price either. In my opinion that leaves 3. Batten down the hatches. Get the burn rate down, and wait it out. AND MINIMAL DILUTION! As shareholders that means no more excitement and nothing to talk about on this thread. From a business perspective though it makes complete sense. In two years when the remaining wreckage of this industry starts looking for deposits to stay in business, Alamos Dorado will still be there. It's not going away, and BAY will then be able to dictate the terms. And those of you that don't have the patience? I'll be there too, picking off your cheap shares.