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

To: todd wiseman who wrote (68)	8/17/1998 8:22:00 AM
From: Steelguy	Read Replies (1) \| Respond to of 138

Todd and Tony, Great to see some discussion again on this thread. I , like everyone, am concerned over the major weakness in Greenstone's price over the past couple of months however I agree with your sentiments that this too shall pass. Greenstone has had some troubles lately and are definitely disappointing the market with oz production and start-up deadlines. However, I believe in my last conversation with Tita which was on Monday, she said that the only thing that she could see is causing this weakness is the fact that we are now under $3.00 and no longer marginable by TSE requirements. I spoke to her on the day that the stock was right at $3.00 and she said that many brokers and analysts were calling her wondering what was up. So, if this is logical, margin etc... the weakness makes sense as many would have just sold out instead of bellying up to the bar for some more loss potential. She also said that they are definitely on target for ( I believe this is the site ), San Andres. Regarding more financing, I believe they will be doing some sort of financing but should be with debt instruments and not equity. That is by no means confirmed by the corporation. For those interested, ask Tita for the latest reports by the many analysts that follow Greenstone. Very impressive in my opinion. Midlan Walwyn: recently visited Cerro Mojon in the spring and as of June 16, recommend Gre as a Buy. Salman Partners: As of June 25th. Buy target: $ 10.00 CDN Griffiths McBurney Partners: as of June 16: Buy target: $ 7.75 Scotia Capital Markets: July 9th: Stong Buy. " We continue to regard Greenstone as the most likely of the juniors to attain intermediate producer status. target: $ us 5.95 Deutsche Bank Securities: July 15: accumulate: target $9.00 Now, have analysts been wrong before? of course. But what this tells me is that in these reports we see that Greenstone is legit. and is not just running around South America poking holes in the ground and pumping their stock price on the way. Greenstone will get the production out of their resources in time. The gold is certainly there and oz's are being added to resources through more drilling this summer. I am anxious for sentiment to turn around on the stock and still am concerned about hearing a bombshell announcement which will explain the weakness....but I don't think this will be the case and buying more at these levels will most likely reward investors in 1 year's time. Please call Tita yourselves for this info. ** note: if the short position on this stock has increased significantly in the past month or so, we must look upon that as a bullish sign. I recall in the Canadian Securities Course learning that this is actually one of the best signs for an inevitable price pop barring any catastrophy. Why? we have guarenteed buyers in the market right now and my guess would be that if the stock touches under the $2.00 mark, the shorts will start to cover. Nice position to have right now I think if you own in the low 2's. We'll see. TAke care, Steelguy.