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Gold/Mining/Energy : Major General--MGJ -- Ignore unavailable to you. Want to Upgrade?

To: hedger who wrote (338)	3/12/1998 2:22:00 PM
From: Ed Pakstas	Respond to of 1707

From Canaccord Capital Gold Update: In previous issues of the Junior Golds Update, we have highlighted the South Voisey's Bay area play, and in particular have focussed on Donner Resources (DML : VSE : $2.33), Northern Abitibi Mining (NAI : ASE : $1.66), and Cypress Minerals (CYP : VSE : $0.55). These three companies expect to see drilling resume on their holdings in the South Voisey's Bay camp probably by early May. We are awaiting formal announcement of a drill start date and overall budgets, but nonetheless do anticipate sizeable exploration programs. These programs will follow up on discovery hole 97-96 made by partners Donner and Northern Abitibi late in the year, which intersected 15.7 m of massive sulphide with an average grade of 1.13% Ni, 0.78% Cu, and 0.20% Co. This discovery is significant in that it is the first time outside of the original discovery at Voisey's Bay that a nickel-bearing interval greater than 1 m has been intercepted. As well, this intercept appears to be in the right geologic suite of rocks, suggesting an opportunity for the development of a significant resource. Ongoing drilling will continue to test this target along strike and to depth as well as test other geophysical anomalies both on the joint venture ground and Cypress Minerals' ground. We'd like to flag a fourth potential player in the area play, Major General Resources (MGJ : VSE : $0.39), whose share price has recently risen from the low $0.30s. This company holds the Sarah Lake project in the South Voisey's Bay camp, and we note in a news release dated March 9 that a preliminary exploration budget could see exploration in the order of $1.0M. The companies noted in the South Voisey's Bay play continue to demonstrate strong liquidity in the current market environment, and share price appreciation has been relatively consistent since forming share price lows in mid-December. We continue to rate the shares a SPECULATIVE BUY. We do note, however, that accumulation should be had on weakness and that all positions should be considered short-term trading opportunities only. ...ed

To: hedger who wrote (338)	3/12/1998 9:40:00 PM
From: Ed Pakstas	Read Replies (2) \| Respond to of 1707

SOMEBODY OUGHT TO PUT THIS -SSHOLE OUT OF HIS MISERY... Do people really pay to get this idiots advice???....... Bishop says, let's make it clear this time: "Sell" Major General Resources Ltd MGJ Shares issued 33,186,119 Mar 12 close $0.39 Thu 12 Mar 98 In the News Bob Bishop, writing in the February 27 issue of his Gold Mining Stock Report, says Major General Resources is a sell at $0.33. Mr Bishop writes that his subscribers should have had the good sense to sell the stock last autumn, when he commented that several companies offered better potential than Major General. He says that when he recommended Donner Resources around the same time, he pointed out that Donner was the better way to speculate in the South Voisey's Bay area play. "Switch strikes me as the obvious message, but perhaps that was not so obvious," the normally even-tempered stock picker writes. "Perhaps eliminating Major General from our universe may help to get that point across." Mr Bishop recommended the stock in December 1994 at $0.42, arguing he like the company's diversified holdings, which consisted largely of diamonds and minerals in Canada. He repeated his buy tip in April 1995 at $0.66 and again in August 1995 at $0.72. In a May 1996 hold recommendation, when MGJ was just under $1, Mr Bishop wrote: "It is not a stock where I would allow investor fatigue to affect my thinking on it." (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com