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Gold/Mining/Energy : Greenstone (GRERF) -- Ignore unavailable to you. Want to Upgrade?

To: Daytek77 who wrote (51)	7/20/1998 1:15:00 PM
From: Mr Metals	Read Replies (2) \| Respond to of 138

Hey Tony! (1) The Mining Contract All that I can do is share what good sources in Panama have shared with me, and I stand by my earlier postings. As for the second part of your response - I, quite frankly, have my doubts about the current management team, and how prompt / comprehensive any disclosure might in fact be. IMHO, this company kind of reminds me of Lac Minerals (remember them?). Solid assets (esp. Honduras + Nicaragua), terrific fundamentals / future growth prospects, but, like Lac, there seems to be a general feeling /suspicion that guys running the company are not always, shall we say, totally and immediately forthcoming about corporate news + events. With Lac, people thought that the "management penalty" was on the order of several dollars per share, and that this may have been a contributing factor in Barrick's decision to acquire Lac (i.e., knowledge that shareholders would approve a deal that would allow them to realize the full value of their holdings). Tony, let's you and I agree to just wait and watch and see what plays out over the coming weeks, eh? (2) The Money All that I'm asking is a really simple question - how much money does Greenstone have in the bank? I am not looking for an exact figure here - just a ballpark estimate (we'll wait patiently until August for the precise number): is it $10 million? $5 million? More? Less? If the company has burned through a lot of their working capital, that's an important event (at least to me in terms of how I value companies). If the $40 million has largely been spent, and the Nicaraguan + Honduras operations still need more capital to be brought into production, then there's some serious problems to be addressed. Or, it could simply be a case of the corporate checkbook got drained building these mines, but will quickly be replenished as the projects ramp up to full production by years-end. Seems to me that I'm asking a simple, straight-forward question. Why do I feel like Ken Starr trying to get answers from the Clinton Administration...? (3) Fund Sale / Decline in Stock price You present a reasonable argument, and time will tell who's right... As for the stock price, perhaps my question was not clear enough - it's the decline from $10 in early April to $5 or so in early July that has me concerned. It would be nice to hear something from management about what factors caused this downward trend... (4) Gold Shows Have to respectfully disagree with you, dude. The way my father taught me business and how to survive hard times is like this: when times are tough, you've got to convey a positive, upbeat attitude and a strong, aggressive and forward-looking public profile. No one's going to want to have anything to do with you if you hang your head and say "woe is me - gold prices are down and no one's buying gold equities". People (investors) flock to strong companies. Sure, the funds have soured on gold - but there are still millions and millions of small retails investors out there. The smart companies are aggressively marketing to these people (partly by speaking at these types of shows), putting the shares away a little bit each day by selling on fundamentals and prospects of a turn-around in gold prices. Are the shows only for pure exploration companies? I don't think so. There are a fair number of well-respected small to mid-tier gold producers McWatters) and royalty companies (Royal Gold) who seem to do quite well at these events. I still say that companies are conspicuous by their absence at these shows right now. Mr Metal