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Gold/Mining/Energy : Gallery Resources (Alberta GYR) -- Ignore unavailable to you. Want to Upgrade?

To: phil anton who wrote (1328)	7/15/1998 1:16:00 AM
From: Wesley Barbowski	Respond to of 1829

Phil, Other companies are drilling and apparently (judging from the depreciation in the value of those companies shares) are not finding anything of value. I'm referring to SVB companies of course. I personally am very happy with the fact that Gallery has decided to learn all they can about their properties (through geophysical surveying) before venturing into an expensive drilling program. Hey, Gallery could have drilled another hole looking for that deep conductor at Okak. Instead, they did their geophysics and discovered that their target is really only (begins) at 1400 ft. This kind of approach makes me sleep better at night. I do not feel the stock price is waivering, especially if you take into consideration the depreciation of other SVB companies, the depreciation of certain metals - the metals we are looking for! The Canadian dollar isn't looking very good either. I have followed Gallery for 3 years and have learned that you have to be patient with this company. They certainly don't have the funds that Donner does to venture into an immediate drill program. Spending their money wisely is absolutely necessary. Also, while doing all the field work necessary now, they are also able to monitor other activity in the area, thus learning more valuable information about the area they are in. BTW, I did not like the release of the Victor French letter. All that letter said to me was HYPE. He talked about the potential of Okak with regard to INCO VB grades. Why? Did we discover anything close to VB grades yet? Certainly not. Releasing a "second version" of that letter really didn't make me happy either. When companies start releasing hypothetical scenarios, it really doesn't make me sleep very well at night.