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

To: todd wiseman who wrote (66)	8/15/1998 5:36:00 PM
From: Daytek77	Read Replies (1) \| Respond to of 138

Todd, I went back and reviewed the last release regarding the Santa Elena drill results. They are exceptional even with gold @$280. I think the reason they are considering going with a stand alone mine is to generate cash-flow and not delay the move from small producer to mid-size producer any longer than necessary. Cash is at a premium I would imagine. I would not expect them to go into the markets for a financing with the price so low. The grades are such that Santa Elena could provide cash-flow, and maintain interest in the company while they complete the super-pit. One last point, the increased volume indicates capitulation on behalf of long-term investors and some mutual funds. This is a necessary and significant development that will provide the base for much higher prices. Those that want out are getting out. I believe that by first quarter '99 Greenstone will be on the fast track once again. It is hard to have patience but one cannot forget the reasons for the purchase. I remember a story of a fellow who was shorting Cott corp a while back for years he was doing this (he was an accountant). He insisted that the way Cott was handling their books did not reflect its true value. To make along story short he was down to his last dollar more or less having mortgaged his house to maintain his short position over the years. Finally after a long wait he was vindicated and made piles of money as Cott collapsed mainly due to accounting irregularities as he noted years before. Greenstone will be a great company but it will try an investors patience. Have faith. Tony