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

To: G who wrote (1006)	3/5/1998 12:52:00 AM
From: Rocky510	Respond to of 2346

Canaccord,s comments - Morning Coffee March 4 -for all to see since it was mentioned: "Yamana Resources YRI:T 447,795 1.78 +23% High grade silver intersections (4.7 m of 5,213 g/t Ag and 6.9 g/t Au) on 2nd Argentina project. Drill has moved off the property to drill two gold projects elsewhere in S. Argentina before completing the season (end of May) at the Lejano high grade silver project with a shallow drilling program 37M shs). Lack of drills and short season put a cap on this stock" The information contained in this report is drawn from sources believed to be reliable, but the accuracy and completeness of the information is not guaranteed, nor in providing it does Canaccord Capital Corporation ("Canaccord Capital") assume any liability. This information is current as of the date appearing on a report within this Site and Canaccord Capital assumes no obligation to update the information or advise on further developments relating to these securities. The information contained in the report is directed _only_ at, and any securities being offered are available _only_ to, persons resident and located in British Columbia, Alberta, the Yukon and Ontario. Canaccord Capital, its affiliated companies and their respective directors, officers and employees and companies with which they are associated may, from time to time, hold the securities mentioned at this report. Note: (thought I'd include Cannacord's disclaimer to be fair) My own comment is: "Look at the values in that 4.7 meters and give that some real good thought!" Good luck to all, Jimmy

To: G who wrote (1006)	3/5/1998 12:52:00 PM
From: Greg W. Taylor	Read Replies (3) \| Respond to of 2346

Canaccord's always going to be tough to deal with. Their idea of a long term play counts in days, occasionally weeks. As a result, the fact that we don't expect to return to drill at Lejano for about three more weeks, means that they are no longer interested in us... at least, not until then. They make money on the swings, not on growth. They make money going up and down two or three times in a week. It works well for them and for many other players (especially those who don't have to pay commissions). Questions about 'Where is this company going in the next few months? and 'How high will it be by year-end and next year?', don't matter a whit. These guys are not interested in their retirement plans or in seeing their money grow with a company. This is not to say there is anything wrong with making money quickly But Canaccord has a lot of people -- reflecting a reasonable portion of the market -- whose approach is: You've hit something big... now, spend everything you've got on it and drill the hell out of it. Drill deep. Drill now. Drill everything so that, in two weeks, we know whether this is a $5 -$10 -$20 -$50 stock... after all, that's the idea here isn't it? Ten-baggers / 100-baggers overnight? They have absolutely no interest in what's good for this company or for its shareholders over any period of time. (Look at their record with the various exchange commissions.) They're the quick turn artists who are very good at what they do... with fire and water. The trouble is, we are in the exploration business with a duty to do what we can to attain the highest sustainable share price. As a result, we'll work as quickly as we can, without wasting money, time or effort, to show what we can, WITHIN REASONABLE GEOLOGIC PERAMETERS. We've got to finish the mapping and recon on Lejano before we poke more holes in it. We are looking at systems which are likely NOT huge, BULK TONNAGE systems. Rather, it appears they are large, fault controlled, very high grade systems which must be examined at surface before deep drilling makes any sense. Particularly in epithermal systems and fault controlled systems, you've got to know the terrain, the geology at surface, you've got to identify the structures, to be able to take an educated guess about drilling. Where are the gossans and how big are they? Where are the faults? Is the heat engine here or is it faulted off? We will get a lot of these answers from recon and from scout hole drilling. If we were to drill deep NOW, we'd be doing it blind and thus, gambling the company in the face of an over-anxious market. As many of you have heard me say before, geologically and in terms of exploration, this part of Argentina is very much like Nevada a half centruy ago. The models we're looking at now are the huge silver finds of Nevada over the last century, mines that have produced 150 to 200 million ounces of silver and millions of ounces of gold. (I'm not saying this is what we have. I'm saying that geologically, we are building an array of parallels between those finds, Bacon and Lejano and the silver district. It's going to take time to find out how far the model goes.) We are preparing the Lejano property for more drilling. This is what I said three weeks ago when I put out the Lejano press release and, it's part of the message in the Bacon release. While we we are working at Lejano, we are taking our drill over to another part of the project (not another part of the country) and drilling on two properties where we have established interesting geologic targets, one based partially on a 35 g/t Au at surface and another based partially on an 8m drill intercept showing 21 g/t Au. This drilling, "mobe and demob" will take a couple of weeks, results will follow in the next few weeks after drilling is complete. Simply: Aside from normal maintenance, mob and demob, we intend to drill non-stop at Santa Cruz from now until late May or June. During this period, I should be able to release two or three or four or five updates. I hope this helps. Greg