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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: dave rose who wrote (5438)	6/17/2002 9:53:52 PM
From: IngotWeTrust	Read Replies (1) \| Respond to of 8010

I think so too. BTW, I just had these comments forwarded to me by a buddy (BP). He says he talks to Paul regularly. Might be some things in here ole Claude might want to take notice of and possibly exception to: Here is what Bill sent me after a recent conversation and then email exchange with Paul LaFontaine, SSO's paid IR representative: OPEN QUOTE FROM BP's email...editorial comments are MINE : I have spoken with Claude Cormier in the past and I know he follows what we're doing - *in fact, Silver Standard is still on the recommended list of his most recently accessible report.* [MY ED NOTE: hmmm...this flies in the face of Claude advising everyone on Silicon Investor to short SSO today, while he's reco'ing it still as a "buy or hold" in his most recently accessible report????? So Claude is doing a Merrill - Lynch/Henry Blodgett here??? Saying one thing privately to one bunch, and another thing publically to another bunch? In----tressss-STING!] LaFontaine continues acc'd to BP's email: "If you don't scratch the surface, Claude's remarks might make sense because recently the stock has done very well compared to Pan Am and you have to wonder how we could continue to do so well. "A little history: Over the last two years, Silver Standard has outperformed Pan Am and our performance relative to Pan Am has been increasing since we announced the acquisition of the 43.4% interest in Pirquitas. [<----ED NOTE: whereszat?] "What Claude may not appreciate is OUR focus on leverage as well as the significance of this acquisition, the former crown jewel of Sunshine Mining. <----Claude doesn't appear to appreciate the need to be consistent with his "advice...that much is clear." "But our SSO's interest in this world-class deposit has not gone unnoticed by retail investors, and hedge and small cap funds in the U.S. Furthermore, with Sunshine's bankruptcy and disappearance, its 10-15,000 shareholders have few places to go. They appear to have chosen Silver Standard. "It could argued that Silver Standard makes a better choice for leverage than Pan Am in that its exposure to silver on a per share basis is lower than Silver Standard's if you account for Pan Am's acquisition of Corner Bay and discount its Dukat project exposure. It's possible that Pan Am's recent weakness is due to portfolio managers who had owned both Pan Am and Corner Bay and want to reduce their exposure to Pan Am. Pan Am also has debt and is operating two of its three mines at a loss. Debt (with today's announcement of US$10 million for the expansion of La Colorada) now totals US$16.9 million. (About 33% of Pan Am's stock is held by insider and institutions whereas Silver Standard's comparable is less than 5%. This means that new institutional interest in Silver Standard must be purchased from the existing shareholders in order to approach Pan Am's levels, providing a floor for Silver Standard's price.) ED NOTE:...aw..now there's another supportive statement for ole TEEVEE's assertion that BAY's shares were basically kited amongst institutions and a PoS....hmmmm....maybe I oughtta get some silver lined SSO religion here... hahahaha Time will tell if Claude's right but his apparent view that production is better than leverage doesn't make a lot of sense when silver's at US$4.82/ounce." CLOSE QUOTE FROM BP. Thanks for forwarding those comments you said LaFontaine said to you on to me, BP. It's so nice to have friends in high places.... Ole CCC just gets better and better don't he????!!!! *NOT* g_t