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Gold/Mining/Energy : DIADEM RESOURCES - DIR,M -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (802)	1/4/1998 5:26:00 PM
From: Dave Tan	Read Replies (3) \| Respond to of 897

Question, does anyone follow Waseco's stock? It is sitting at $0.18-0.22. Now according to some rough calculations, 3 million ounces of gold at $120 cash cost and the current price of $290, translates to $510million. at 60% interest, thats I say about $300 million. But with 17million shares out and $0.20 price, thats only $3.4 million. Now can someone tell me why there is such a big disparity? I really don't get it. Even if gold drops to $200, Waseco can still make a profit and a proper valuation is more in the $2 range. Which means that Diadem should have $14 million worth of WSCO shares. ???