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Gold/Mining/Energy : St. Jude Resources......V.SJD -- Ignore unavailable to you. Want to Upgrade?

To: Fishfinder who wrote (2964)	2/13/2002 12:39:30 PM
From: ogi	Read Replies (1) \| Respond to of 3065

Scott: I sympathize with the squeeze you are in on SJD. I have been taking my lumps in this jr bear for years and I certainly took some losses on SJD but I got out a couple of years ago, when after 3 years of drilling there seemed to be little progress and a drill program that was helter skelter. They weren't doing a good job with what they had. I then met with Crew Development who had become SJD's partner on the property through a takeover. It was clear to me that they felt SJD were botching the drill program and that SJD were not interested in utilizing the advantage of a partner who was an operational miner. Furthermore, one of Crew's staff was the guy who found the property in the first place. What was clear to me then was you had Terrel over here with money and some geologist named George over there running the drills and that was about it. Check Terrel's background and it is not mining or geology or exploration, he just went where the money went in the last bull market run. Also, I find it pays to really study the progress through news releases of a proven and successful company like one of the Hunter Dickenson group ( say Great Basin GBG )and that helps to ferret out inferior companies, helps develop one's nose so to speak. Compare SJD's drill program releases and I bet you'll find they have an inferior bouqet! Anyway, I bailed not liking their lack of progress ie: 3 years and no resource estimate( that took 5 years), chairs and then title disputes to boot. I had some good chats with Russ at that time and I believe he followed up with Crew. They do have a good property in a reasonable African country and you might do alright in the long run, I hope so. The point is not that it can't fly but without truly good management you are always at risk of a bad flight regardless of the marketplace. To me the best evidence of that is that SJD had $10 million and they have spent about $7 million or more of it to announce 500,000 pp ozs in 5 years. What incredible opportunities that money gave them in the largest depression of junior mining assets ever! Instead they have some plastics and a resource that won't attract a major except as possible mill feed. I hope you get your money back ++ and find a well managed rocket for a great ride! Cheers