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

To: gennady who wrote (3230)	11/6/1997 11:53:00 AM
From: I_C_Deadpeople	Read Replies (1) \| Respond to of 4057

I see nothing positive OR negative in the package sent out. It is quite common for options to be revalued if the stock price has tanked. This year i have seen this in many stocks. So what if the directors personally HOLD few shares. They have the option to purchase some and from time to time they will exercise the option and sell them. Wouldn't you? As for calling this a scam? I think this is a severe overreaction... The stated ozs. of reserves have been verified by Echo Bay.. is this an undervalued company? That depends if you believe thier is more ozs. and the the property is economic.... Should we all have sold long ago, DA, no kidding, but don't pretend we are isolated in thinking this is the only stock that has plummeted in price - check out the Kensington, Bandore, Eaglecrest ,etc. etc. threads and you will see the same old story .... How we got here is irrelevant. What is relevant is - WHAT IS THE COMPANY DOING NOW? On this note, we can argue till the cows come home...but in my opinion we need to know the following from the general meeting: 1. Assay results from the last drilling program 2. Will Echo Bay stay in the JV? If not, what is the contingency plan for (i) future development and (ii) raising cash ? If Echo Bay wants to stay in will they try and negotiate the next pp price or will FLA stand firm to the original agreement? If FLA stands its ground it would be an endorsement to the value of the property and the company.. Until we know the above, we are 100% in limbo....... Sorry to vent as I am frustrated as well, but I think the "scam" or "hype" part of this company was all the "tower of gold" bulls**t. This simply is a company with a modest reserve and a modest grade that may or may not be economic. It has SOME potential to show us some additional resources but how much and how quickly no one knows. EW