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Strategies & Market Trends : Winter in the Great White North -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (407)	2/27/2001 8:38:20 AM
From: Condor	Read Replies (1) \| Respond to of 8273

From todays Cannacord Capital Daily Letter: ++++++++++++++++++++++++++++++++++++++++++++++++++ SPECULATIVE BUY Corner Bay Silver Inc. (BAY : TSE : $1.58 : Issued 15.55M) Graeme Currie (604) 643-7405 graeme_currie@canaccord.com HIGHLIGHTS * Corner Bay Silver announces the resumption of drilling at the Alamo Dorado silver heap leach property, Mexico * After further structural interpretation, drilling is to begin likely mid-Q2) testing other targets on the property * Corner Bay Silver remains one of our top picks in the junior exploration sector Recommendation: SPECULATIVE BUY 52-week price range: $3.25-0.60 Shares O/S: basic 15.55M fully diluted 19.42M Major shareholder: Management Weekly trading volume: 180,000 Working capital: $6.0M (CCC est.) Long-term debt: nil Market capitalization: $24.6M Asset statistics: Alamo Dorado Silver resources (equiv.) 128.8M ounces mineable 2001 budget : Gross $5.0M Geographic location: Sonora, Mexico Geological host(s): Ag/Au Mesothermal /Metasedimentary host Sector: Junior Mining Web site address: www.cornerbay.com Corner Bay Silver announces the resumption of Drilling at the Alamo Dorado silver heap leach property Corner Bay Silver, which recently completed a $5.5 million financing and a name change from Corner Bay Minerals, has announced the resumption of exploration and development work on its 100% held Alamo Dorado silver property located in Sonora, Mexico. Exploration to date has outlined a mineable reserve in all categories of 52.5 million tonnes containing 128.8 million ounces of silver (equivalent: Ag + Au) and which remains open for further expansion within the Main zone as well as at several other target areas within the property. The initial phase of drilling will include in-fill drilling in the area of the proposed Phase One or starter pit and is designed to improve grade/thickness data and to upgrade some areas of the deposit to mineable categories. The Phase One pit is currently scheduled to cover the initial three years of production at a strip ratio of less than 1:1 and which we have estimated could produce some 16 million ounces of silver (equivalent) in years one and two. Drilling will also be completed at the southern end of the deposit, which is truncated by a well-defined, low-angle detachment fault. Previous drilling in this area yielded values up to 697 g/t Ag and 0.41 g/t Au over 52.5 metres in hole AD-49. There is the potential to add to the reserve base along this fault. More importantly though, the company indicated that previous drill holes, inclusive of AD-49 above, may represent the upper portions of a feeder system. After further Structural Interpretation, Drilling is To Begin (likely mid-Q2) testing other Targets on the property The company is also initiating property-wide, detailed structural interpretive work. This will allow for better understanding of the controls for the main deposit and for further assistance in defining drill hole locations on outlying target areas. We would expect that the drilling of such targets could begin as early as mid to late Q2. All of the work presently underway will be incorporated in the company's plans to complete a bankable feasibility study by the end of the year. Corner Bay Silver Remains one of our Top Picks in the junior exploration sector This junior provides a combination of a large resource and reserve base of silver and gold which, based on pre-feasibility data, can yield NPV at a 10% discount (employing silver prices at US$5.00/ounce) of $4.36/share fully diluted. Added to this is the exploration upside to expand the Main zone and the opportunity to develop further targets on the property. We continue to rate the shares as a SPECULATIVE BUY. For further background we reference our report dated January 11, 2001.

To: Cogito Ergo Sum who wrote (407)	2/27/2001 2:46:49 PM
From: marcos	Respond to of 8273

Each producer of a commodity will have its own distinct graph of how its shareprice should logically behave at various prices of that commodity ... well with bay.to you don't need a great increase in PoAg, it has early leverage at only modest improvement in PoAg ... something like Silver Standard [as i dimly recall, don't follow it close] has greater leverage as silver pokes its nose through say 10US/oz, but very little up to that point .... this is on an earnings basis, of course, and ignores the speculation factor. Meantime, something posing as Logic is whispering to me - 'five fifty silver is more likely than silver at fifteen' Both bay.to and mfl.to are takeout candidates imho ... which means you could sit on them until you're really really bored like i was with Winspear last June, then you sell them, maybe at a small loss, then wham they get taken out for a double or triple .... this theory from the School of Realism, lol. Oil and gas has done well, eh ... and is this not the time of year when gas tends to back off ... i missed the whole gas thing pretty much, had very little in the market last spring when it was happening ... but if i'd been in on it, i think i'd be taking profit now for sure. You saw Bob live, wow ... me no ... but he did augment the life experience for sure ... 'you don't need a weatherman to know which way the wind blows' ....... 'i see my light come shining, from the west down to the east .. any day now, any day now, i shall be released' [i have the latter on my desktop, got it from the top url here - Message 7547361 ]