Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Westfort Energy Ltd. (WT-T) -- Ignore unavailable to you. Want to Upgrade?

To: AL Berta who wrote (688)	6/30/1998 12:27:00 AM
From: bhg	Read Replies (2) \| Respond to of 1288

Hi Al, Those figures are in the same range I came up with. How high it goes will depend on what WT does with the revenues. Do they buy more exploratory land or do they just drill more wells? We'll see. I talked to Grant today and he confirmed that there has been buying from Europe (that's the third source I have heard this from). He also confirmed that they want to buy "at least 3-4mm additional shares" and that they are trying to use the outstanding warrants to help accommodate this volume of buying. The float will be quite thin with this volume of buying and the liquidity could dry up as all the non players are removed from the game. This will drive the price way up but WT will have to do something to remedy the liquidity problem should it arise. I don't remember if I mentioned it on this forum but I got news this past weekend explaining the price drop this past month. It appears that financiers of WT were finally able to sell stock they were given in the deal and this selling caused margin calls which in turn caused more selling and the stock dropped even lower. At that point many supports were broken and the stock had to find new ones. This sometimes takes time as people reevaluate the situation. It appears to me that this has happened and with new buyers joining in on the fun, as well as the news from the site, we may not see these prices again. I put two new clients into WT and then bought additional shares myself. I know I'm setting myself up for it, but here goes. If there are any shorts on this thread, please do yourself a favor and cover your position. Get all the info you can from the market makers in Vancouver and from WT. Look at the charts. Find out for yourself why the stock took such a large hit this month. Look at the up volume compared to the down volume. There are many more buyers then sellers. That makes stocks go up. Then reevaluate the stock. You can make money on the way up too! I hope you will be as successful as I! Good Luck to all! I'll be gone for a couple of days so I'll talk to you all then. I am planning on going to the site in a couple of weeks, so if anyone wants to join me let me know. Thanks again Al. Bruce