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Gold/Mining/Energy : Flag Resources (FGR.A A) -- Ignore unavailable to you. Want to Upgrade?

To: RJ2 who wrote (3763)	6/12/2002 10:22:36 PM
From: hank2010	Read Replies (2) \| Respond to of 4269

Better get your eyeballs checked out, RJ2! There is absolutely no mention of true widths! Flag claims the zone is 875 feet long, not the possible ore body. More then 50% of the holes drilled into the zone were duds! I stand by my previous remarks. Flag has zero ore reserves! Check out your definition of ore reserves in your National Policy (43-103 ?). The reason that your securities commissions up there in Canada came out with this National Policy is to prevent WAG figures being spouted about ore reserves by unscrupulous companies. Flag does not state that they have any reserves! You should not be calling anything reserves either! Second point! All this work was done in 1996 and previously to 1996. The implication of the NR is that this is new news. I note that the average price of gold in 1996 was between $380 and $410. Presently gold is about $75 less. What is the point? Third! Work was recommended by professionals like Tagliamonte. Why has Flag not previously followed any of these recommendations for the past 5 years? Fourth - good news! Murdo and Sid are talking about Flag's indebtedness of $6 million. At least Murdo is starting to recognize that there is a debt. Is Sid asking Murdo why he is not optioning some of the property to the local experts (Inco and Falco)? I hope so! Fifth - possible bad news Is Sid considering shares for debt? At 15 cents per share He would get an additional 40 million shares. does that smell like a 10:1 roll back coming down the road?