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Gold/Mining/Energy : PLAYFAIR MINING - PLY . V -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (255)	8/3/2001 12:51:29 PM
From: TheBusDriver	Read Replies (1) \| Respond to of 505

<<they can wait for better market condition.>> that is not a real option CC, I assume you were kidding. They don't have the money to sit on their hands. wayne

To: Claude Cormier who wrote (255)	8/3/2001 2:43:39 PM
From: Brumell	Read Replies (2) \| Respond to of 505

Under the circumstances, I tend to agree with you Claude. A jv. might be the best way to go. But management will want upfront money. Doubt they can get it. That money might not do much for shareholders but it would for management. Option 3 - drilling alone - is possible if done quickly. Their burn rate has been high - over $100,000 per month since last February. Option 2 - another PP - is worst for shareholders. Unfortunately it's most likely IMO. If there's any positive spin for it, management will have tremendous incentive to get warrants exercised. Assuming another 2.5 million or so warrants for a total 8 million, that would put $2.0 million in the kitty if exercised at 25. To be exercised, stock needs to be well over 40 with exercise time running out... i.e. mid February. Claude, I believe PLY can show a causal relationship between bedrock and anomalies by drilling. I believe management know they can too. When they do, PLY will fly. Warrants will get sold. Money will pour into the treasury. It's more a question of good timing methinks. My hunch is they've always wanted to go it alone and will. That was always their plan as stipulated in their prospectus. Unfortunately, their over spending has reduced their options. No sense my hollering as a shareholder. It's happened. Question now is what comes next for shareholders. Bob