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Gold/Mining/Energy : Yamana Resources INC. T- YRI -- Ignore unavailable to you. Want to Upgrade?

To: Greg W. Taylor who wrote (741)	11/1/1997 2:22:00 PM
From: Sultan	Read Replies (1) \| Respond to of 2346

One reason the stock is going down is individual investors, including myself have sold any shares held in non-rrsp accounts to book tax losses. YRI is an exploration play with excellent properties but for a lot of investors who are selling, it may be just a book keeping exercise at this point. Not a reflection on the company's prospects. Once the tax loss selling is over, the sector stabalizes and the prospects improve (some one has to report a substantial and economical find, eventually), then the price I am sure will reflect that. P.S. With your burn-rate, what are the plans to shore up the cash position.

To: Greg W. Taylor who wrote (741)	11/1/1997 3:01:00 PM
From: Richard Saunders	Read Replies (1) \| Respond to of 2346

Greg/ Thanks for continued updates. Like you, don't enjoy current pricing but still have hope........

To: Greg W. Taylor who wrote (741)	11/1/1997 3:21:00 PM
From: Daytek77	Read Replies (1) \| Respond to of 2346

Greg I respect your passion for Yamana. I was involved in the company about 3 years ago because the company offered an excellent management team and exposure to many properties and commodities. The investing landscape was also dramatically different. People watched Diamond Fields develop from small exploration company to world class nickel company with the Voisey's Bay discovery. Bre-X was just starting to take off and the two provided people with alot of money and more importantly it set the trigger for the next big find. Junior companies were given a high profile, where finacing was readily available from a mutual fund company or brokerage firm. The price of gold was stable and rising even though a junior company is more a bet on the future price than the present. Today none of these important elements are present. Investor sentiment has been shattered by Bre-X, Delgrtatia and others. Mutual funds are not interested in providing capital to junior mining companies, brokerage firms are also not interested. The price of gold has been decimated and the future looks even more bleak. Producers have hedged appproximately 400 tonnes this year from virtually nothing last year. Today the mere threat of Central banks selling whether it is true or not is enough to collapse the price. The Swiss are doing their best to make sure everyone knows they may sell 400, 800 or 1400 tonnes. The numbers are not as important as the intent. This market needs to rationalize. Placer Dome has stated they will close their Detour mine, Royal Oak is looking at shutting down the Colomac property and Barrick has closed 5 mines of lower grade. At current prices almost half the mines in South Africa are uneconomic and those in Australia are also in trouble. The process has started, but it must acellerate. The perception of continuouslly rising supply form the mines of the world has to be changed. The industry needs to rationalize (mergers) more mines must close and perhaps there will be the inevitible bankrupcies. This is the scenario that I see in the immediate future. The end of the process could be like the oil industry which has gone through a similar climate 4 - 5 years ago. They are thriving now and I hope the gold industry will do so also. All the best Tony