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Gold/Mining/Energy : L S Capital / Griffin Gold (OTC:BB CHIP) -- Ignore unavailable to you. Want to Upgrade?


To: kimberley who wrote (2403)12/3/1997 1:49:00 PM
From: GlobalMarine  Read Replies (1) | Respond to of 3594
 
Kim:

I used to take a dim view of trading the DDs, but your posts changed my mind. Over a long period of time, one learns how a stock price ebbs and flows and opportunities will occasionally present themselves where one can pour some dough in on weakness and cash out on a recovery. I keep my core position but have put some more in at $0.60 after the IPM debacle and expect a recovery to its resistance point (unless we get an IPM-style bombshell).

A downside to Maxam is that we know for a fact that the Runyons have sold shares in the past to meet personal expenses (e.g. buying homes in AZ). IMO, until such time as cash flow commences from mining, I think the family will likely continue to sell shares to meet personal expenses and this will keep Maxam from breaking out decisively beyond $1. I hope I'm wrong.

Regards,

Rand



To: kimberley who wrote (2403)12/3/1997 2:02:00 PM
From: GlobalMarine  Read Replies (1) | Respond to of 3594
 
Kim: On an LS Capital note, I'm pleased to see the company back at the $0.90 level, so it has fully recovered from IPM indigestion now. Thank goodness for placer mining! The fact that in return for a 60% stake, the company only has to spend money on setting up a plant and related expenses as opposed to simply handing over cash to the vendors suggests (no guarantees given the IPM debacle) that there is something worthwhile in the ground.

Rand