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Gold/Mining/Energy : Trump's 12 Diamond Picks, Discussions Limited -- Ignore unavailable to you. Want to Upgrade?

To: zedex who wrote (1457)	10/25/1998 1:08:00 AM
From: bill	Read Replies (3) \| Respond to of 2251

I'm not sure what to say about MGJ and Greenland in a serious vein. George probably as a better handle on possibilities than I have. I was serious about the costs. Iceland is terribly expensive and Greenland is more expensive. Everything has to be freighted in and then moved to the drilling location. That means using ships out of Halifax or St. Johns, probably,for Canadian companies. If the companies have the money, they could airlift equipment in but that is even more expensive. A dogsled and driver (they still use them there. We're not talking roads.) is a hunded and fifty a day American. Feeding a Canadian crew Canadian food requires a rather large budget. The exploration season is rather short. A colleague of mine returned to Iceland last week and he says winter has set in. It was a Danish protectorate for a long time. Now it has around 55,000 people. I'm more familiar with it in an historical context than a present one. I believe there are only four or five substantial towns. Unlike Iceland it is settled by Innuit. Iceland was settled by Norwegians who brought in Irish slaves (and others) from their viking raids. I believe that Greenland is now largely self-run. A major plus is govt. stability. Any agreements signed will be honored. The govt. both in Greenland and Denmark are honest. I know Denmark reasonably well, like the country and the people. If I had to live somewhere other than Canada it would probably be Denmark (or Sweden). None of these may seem like major points but after what we observed with Indonesia and BreX and all the dishonesty, a major factor has got to be (at least where my money is concerned) the honesty, dependability of the govt. I've got a list of countries I won't invest in no matter what the story. I'm sort of keeping an eye on MGJ. They've got more than one iron in the fire. They've been around for quite awhile. The problem with all the juniors right now is lack of cash. A lot of the early exploration companies in the NWT have disappeared. Unless you've been following the play since the beginning you wouldn't even recognize any of the shells that were financed to get into the play once Fipke could show he had diamonds. We're seeing more of the same. Unless WSP blows things open, a lot of the remaining juniors will give up big chunks of their percentages to have a major with cash guarantee an exploration budget. I'm not one of those who thinks the further away a play is the better. Right now I'm more interested in the fact that ABZ has used their more advanced understanding to re-explore property in The Corridor of Hope. They've come up with two possibilities on the ABZ/PUG/Kennecott property. It's a great location. But, when a lot of the property around Diavik was first explored, no one really knew what they were looking for. The property was largely written off. Those juniors that have held on may now benefit. I think the percentages of finding good pipes are greater there than in a lot of other places. (But??? in this game, we're all trying to figure the odds.) For short term trading, I'd trust the technicals. I know some people don't believe in them with juniors but I find MacD, OBV and Bollinger Bands helpful for getting in and out. I wouldn't make any long term decisions on them, though. Right now, I'm going with WSP. All the tech signals are green. Someone is taking a large position. If we only knew who, it would tell us a lot. If it is RT and friends, then I'd be betting the farm. If not, then it may just be a fool with more money than me.