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Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE) -- Ignore unavailable to you. Want to Upgrade?

To: Joseph LEE who wrote (143)	6/17/1998 2:00:00 PM
From: Baywall	Read Replies (2) \| Respond to of 210

Joseph, Thank you for your thorough discussion on shells. Patience is a virtue, but good prospects must also exist in any speculative company in order to benefit from the waiting. I still believe Geodex has potential. I mentioned earlier that a news release on property(ies) is tentatively planned for latter part of June. News may come a bit later, depending on the work which still has to be done. Canaccord Capital is analyzing various proposals. This in itself is encouraging. These proposals do not involve Chimborazo for now, that will come later. Some evidence may thus exist for new property acquisitions. Re message #140. The insiders (it is assumed) have "loaded up" on the maximum.(Dropping deemed cost from 18 cents to 15 cents). Was this done before the stock is anticipated to move up? It would be the ideal time. Note that a bit more debt was covered. It would be normal to assume more expenses will be incurred as the days pass. So why convert now and not later? I can speculate that some form of "outside" financing is coming to cover working capital requirements. Financing won't come if no potential exists. That's why I believe Geodex has potential. LVL