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Gold/Mining/Energy : Global Platinum & Gold (GPGI) -- Ignore unavailable to you. Want to Upgrade?

To: JACK R. SMITH JR. who wrote (4403)	12/9/1997 8:55:00 PM
From: go4it	Read Replies (1) \| Respond to of 14226

Jack, Stan Wardell is the owner of Friendship Metals. I was rather surprised to see his named mentioned in conjunction with GPGI since I didn't think he was going to have anything to do with any other public companies. Going from second hand reports, I have heard that the lab is incredible for R&D but Stan is a non-disaplined person who believes in trying a pinch of this and a dab of that. If the second hand information is correct than GPGI will do well with the lab if they can keep Mr. Wardell from being involved. Chuck

To: JACK R. SMITH JR. who wrote (4403)	12/9/1997 10:09:00 PM
From: Gene Veinotte	Read Replies (1) \| Respond to of 14226

I agree this is the classic pump and dump: stockdetective.com Gold producers slip under price pressure as banks gain ground JAMES MCCARTEN TORONTO (CP) - The ongoing freefall in world bullion prices took gold producers on the Toronto Stock Exchange along for the ride Tuesday as uncertainty about the Asian currency crisis continued to erode commodity prices. But the TSE 300 composite index lost only 20.72 points to close at 6,766.99, thanks in large part to gains posted by Canada's five largest banks. Gold continues to slip amid fears that the world's central banks are divesting themselves of their reserves and opting for more lucrative investments to backstop their currencies, said Mark Mullins, chief economist at Midland Walwyn Capital in Toronto. "There could be a case here that we're ... -going to use (gold) less intensively as a reserve for central banks, and it's not going to be a traditional hedge against high inflation and uncertainty," Mullins said. "A number of people have talked about mining out of central banks instead of out of the ground." Barrick Gold Corp., Canada's biggest gold producer, slipped 85 cents to $21.70 and No. 2 producer Placer Dome Inc. lost 60 cents to end the day at $15. Barrick and other big producers are worth about half their value a year ago. Argentina joined the Netherlands and Belgium last week as the latest country to dump its reserves, opting for U.S. treasuries. Other European countries are expected to follow suit. But it's equally possible that gold is generating a lot of selling simply because it's no longer living up to expectations, Mullins added. "We may just be going though a period where it's underperforming as an investment asset, and you're getting a lot of sellers in the marketplace." As lingering concern about the currency crisis in the Far East keeps a lid on commodity prices, bank stocks are reaping the benefits as investors predict higher long-term rates. The financial services index climbed 71.91 points as Bank of Montreal gained $1.30 to close at $67.10 and CIBC earned $0.20 to end the day at $46.70. Other bank improvements Tuesday included TD Bank, which gained $0.80 to close at $54.70, and Royal Bank's gain of $0.30 to $80.15. "It looks like we may have hit a bottom here in terms of long-term interest rates in the last week or two," Mullins said. "We tried to go through six per cent in the U.S., we got through slightly in Canada, (but) a look at the economic data ... -suggests we're getting into serious overheating in the U.S. economy." In New York, the Dow Jones industrial average fell 65 points to 8,046 despite nearly erasing an 85-point slide in the morning. The carnage on U.S. markets was triggered by software maker Oracle Corp., which set a one-day volume record on the Nasdaq market after quarterly profits released late Monday proved lower than expected. The Nasdaq composite index suffered the heaviest damage, falling nearly two per cent, while Oracle shares plunged $9.44, or 29 per cent, to close at $22.94. The price collapse carved more than $9 billion from the company's total market value. A whopping 172 million shares changed hands, making it the most actively traded issue in history. Oracle attributed the weakness to Asia and unfavorable exchange rates, warning that those problems may continue for months. The Canadian dollar closed down 0.07 cents at 70.29 cents US on Tuesday. In Toronto, three of 14 groups rose. Utilities led the way, gaining 1.02 per cent, followed by the financial services index, which climbed 0.84 per cent, and pipelines, up 0.2 per cent. The biggest decliner was the gold and silver index, down 3.77 per cent, followed by industrial products, which fell 1.07 per cent and metals and minerals, down 0.75 per cent. Decliners outnumbered advancers 632 to 414 with 292 unchanged in trading of 110.5 million shares worth $1.7 billion. The TSE 100 lost 1.22 points to close at 411.17. Also losing ground Tuesday were metals issues, another victim of continuing fears that commodity exporters have the most to lose from an Asian financial meltdown. Nickel giant Inco Ltd. fell 55 cents to $26.45 while Falconbridge Ltd. lost 50 cents to close at $17.50. Among industrials, Ipsco gained $3.50 to $60.50; Newbridge lost $4.55 to $56.20. Among oils, Canadian Occidental rose $1.20 to $34.10; Chauvco fell $0.95 to $22.80. Among mines, Teck Cl B slipped $1.65 to $18.75.

To: JACK R. SMITH JR. who wrote (4403)	12/9/1997 11:05:00 PM
From: Randall E. Brubaker	Read Replies (1) \| Respond to of 14226

Jack: I share your sentiments. We need clarification from the company. Forget about the Saturday meeting. We've been shipping to a "wholesale refiner", who was also to be un-named for a while. What is the status of those shipments? The web-site told us this a couple of days ago: "Since the only material at the refinery is Global dore metal in the last stage of being converted into a final saleable product..." How is this conversion going?