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Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE) -- Ignore unavailable to you. Want to Upgrade?

To: Baywall who wrote (170)	8/19/1998 10:38:00 AM
From: Baywall	Respond to of 210

Addendum: On SEDAR click: OTHER MSWORD 5K Negotiation stage currently. A contract for the property must still be drawn up and signed. I made a reference to diamonds in message #72. This property has either/both a proven resource or the potential to host an economic deposit. Thus it is not totally a grassroots exploration play. LVL

To: Baywall who wrote (170)	8/27/1998 12:34:00 PM
From: Baywall	Respond to of 210

For those still interested. It is dangerous to fight the tape at this time. The VSE may easily decline below 400. Upon looking at some statements made by the firm over past two years. Aug.28/96 Company strength listed was:"The ability to raise significant capital for suitable projects". Yes, maybe in good times, but when things get rough it is difficult. The firm however, has good technical staff in Mr. Marr and Mr. Humphries and are still sticking to their corporate objective to go after advanced properties. In today's Globe and Mail, the firm is still on the inactive list. There are only 6 noted in the whole VSE section. Cyprus has put Chimborazo into inventory. Talk of a JV partner was valid, but who wants to invest now in light of declining markets. The property was written down to a "nominal" amount but not totally. Maybe in the future the property will be considered again. The diamond project in Botswana is currently under consideration. Everyone seems to be in the business around the world. Small juniors like TNK Resources and others in Botswana are all over the map. I can't say this project will be significant. All say potential exists-this statement will not make me invest until further proof is offered. The firm's potential JV partner is currently doing airborne magnetic surveys on the property and plans to drill a few previously identifed diamondiferous pipes in mid-Sept. Although it is difficult to define a commercially viable pipe I expect a minimum 50cpht, with evidence of large stones and a good kimberlite tonnage.(This is what Kaiser says of all pipes in general for any chance of moving a stock price.) Currently no such evidence exists. A final note on listening to analysts and others too closely. I contacted various IR of a few firms, and they have the tendency to use the word "WILL". Be careful folks. Some critics who were on this thread are not following their own advise. Message #635 of another thread "This comes from a source close to a former director." Will reach $3 within two weeks some directors told him..." BE CAREFUL despite the apparent strong fundamentals. Analyst's report June 7/96. "We recommend the shares of Agate Bay as a buy for speculative investors." Mixing the word "investors" with pure gambling is unsettling. This was regarding the earlier projects which were grassroots and did not produce. I appear to be critical on this message, with reason, and because I was one-sided over the past year. Regarding technical analysis,it is seldom correct. But chances of success are increased especially if confirmed by a price increase, Such never occurred with Agate/Geodex over past two years. Maybe I failed to stress this critical element along with the market decline of the VSE. Check to see whether the markets are healthy first, especially the various industry indices. At this stage an agreement could be signed as all is ironed out, but financing must still occur. The drilling results and data from the current airborne surveys should be out within 4 months. It is critical that good results occur as future option requirements become more onerous. Millions more in exploration expenditures required to gain ownership to the property. LVL