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

To: RJ2 who wrote (3797)	9/12/2002 9:30:46 PM
From: Berry Picker	Read Replies (1) \| Respond to of 4269

I do not pretend to know all of the plusses or minuses of entering into a JV. We would of course have to "give up" a percentage of our interest in whatever property we JVed - but as the old saying goes 1/2 of something is better than all of nothing. If we do not JV then 1 of 3 things will happen... 1. We will sit on this property and all grow old before we see anything of value ever happen because we could not "give" anything up. 2. We will have to increase the number of shares and dilute everyone's position by selling a huge amount of paper to cover the costs of a REAL drill program at SEVERAL locations. 3. We will get incredibly "lucky" and find something of such value that the stock just rips to high levels and we finance at those levels and get the money we need to do an intensive drill program at SEVERAL locations. - Or we JV the instant solution but not always the best. Sometimes these big outfits leave little guys with next to nothing by the time it gets to production. Here is yet another possibilty - WE JV something - not everything every where. We get "something" enough to fund the rest of the drill programs ourselves so that while we get a "little" of something to get us up and DRILLING we may still get a "LOT" of something else. If these properties are truly as good as Murdo seems to think then I can see why we don't do "SOMETHING" to get "SOMEWHERE" "SOMEHOW" but I am also pretty sure that Murdo shares those thoughts as he is not getting any younger either :-)