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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: Rocket Red who wrote (19057)	5/4/1999 8:22:00 PM
From: Andrew	Read Replies (2) \| Respond to of 26850

Hi Red are you back in? Hey how about that Gerle Gold. Ouch. I hope you dumped it. I really like the stockwatch release. Gerle Gold Ltd - Gerle's Blob statement ticks Kaiser Gerle Gold Ltd GGL Shares issued 22,411,858 1999-05-04 close $0.24 Tuesday May 4 1999 KAISER FUMES OVER 'MASTERPIECE OF BAFFLEGAB' by Stockwatch Business Reporter Gerle Gold traded down to its 52-week low of 20 cents intraday on Tuesday after the company issued a press release updating drilling at Blob Lake and Fox Lake that letter writer John Kaiser described as a "masterpiece of bafflegab." Gerle recovered somewhat to close at 24 cents on Tuesday, down eight cents from Monday on relatively high volume of 222,200 shares. Gerle's announcement, released on Monday, updated drilling on four targets below the frozen Blob Lake in the Northwest Territories, and one in nearby Fox Lake. The work, carried out with partner Monopros (De Beers), is so far inconclusive. President Ray Hrkac said the company "remains confident that its systematic and innovative approaches to identifying drillable kimberlite targets will prove useful." Five targets remain to be tested. "Nowhere in the news release does Gerle actually say it failed to hit kimberlite," Mr. Kaiser grouses. "But, given the promptness with which De Beers is reporting new kimberlite on Mountain Province's Kennady Lake property to the north, we can reasonably conclude that no mention of kimberlite means no kimberlite found." On any given day, many companies issue equally noncommittal statements. The difference for Mr. Kaiser is the statement comes after two weeks of failing to reach Mr. Hrkac and because the hardly-ever-acerbic Californian has supported Gerle year in and year out since he began publishing in 1994. Mr. Kaiser has recommended the stock at least nine times over the years at prices ranging from 26 cents in December 1994 to $1.95 in February 1997. "The clenched-teeth tone of the news release and the way management has handled investor relations during the past couple of weeks engenders that sinking feeling Doyle Lake is headed toward a major bust," Mr. Kaiser bleats, adding correctly that he expects the stock to come under selling pressure. Still, he sighs, "as the play's strongest booster and a fairly large shareholder, I am committed to staying on board until I know definitely Gerle is a lost cause." The letter writer made a similar, but more measured, comments in November 1997, when he complained about the timing Ashton Mining's news releases. In a Nov. 11, 1997, Bottom-Fish Tracker, Mr. Kaiser referred to Ashton's "supposed arrogant and even manipulative attitude toward its shareholders." In his Gerle report, Mr. Kaiser speculates that Mr. Hrkac's reluctance to talk publicly about the drilling program may be related to the company's May 28 annual meeting and the possibility of a proxy battle. "It's a fact that management's grip on the company is vulnerable to the whims of grumpy shareholders" unhappy with the company's lack of results, he writes -- grumpily. Mr. Hrkac declined to return a call. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)