Essex Resource Corporation Up Over 33%! (T.ESX) | Stock Discussion Forums

SiliconInvestor

register

Sponsor

register

Gold/Mining/Energy | Essex Resource Corporation Up Over 33%! (T.ESX)

Previous 10 | Next 10

To: Sudhir Khanna who wrote (141)	1/24/1997 6:09:00 PM
From: Robert	of 1394

Sudhir, you make some good points in your comments. Perhaps I am misjudging the situation with Essex, since I don't know (until now) the background of Ian. One should take note when a fellow investor builds confidence in a particular management, so I will defer, and give Essex the benefit of the doubt. Like I said, I didn't sell because I felt Essex was a dud, but rather because my comfort level was faltering. Essex traded huge volume over several weeks. Although It had a lot of overhang, I was surprised that It treaded water for so long. One has to wonder where all that paper is coming from, and in the absence of any significant news, how that volume of trading can be maintained. One would expect that eventually, a tight level would develop, where believers in the play are unwilling to part with their shares. Selling at lower levels would then dry up, and volume would dwindle. That didn't happen with Essex, although it may be happening now, and so I bailed out. However, I made profits, and I might get back in at some point. Anyway, I found your discussion and Roberts' interesting, so please continue with this kind of flow of information. Best Regards, Robert

Share	Recommend \| Keep \| Reply \| Mark as Last Read

To: Robert who wrote (146)	1/25/1997 10:15:00 AM
From: IDT	of 1394

Robert: Wanted to add a bit to the commentary. I to was aware that Essex had a private placement coming on the market in the low 2s and watched the the move up in price on huge volume after the news release sputter back to under 3 dollars. I bought yesterday at $2.87. I was waiting because I expected the price to fall back. I was targeting $2.50 but decided that the price may not fall that far. If it does I will pick up more shares. My thinking is as follows. Their are more than one type of investor in these shares. Those who have the opportunity to get into private placements will sell immediately when shares open to trading. They realize quick profits with little risk and move on to the next deal. If the fundamentals of the company are good some may hang on to the shares for a while. Most, however, care little about fundamentals and simply buy and sell on promotion cycles of the stock. As for those of us who are not part of this system if you will, we can get whip-sawed in price moves if not careful. If you think that a company has good prospects for heading higher on favorable news, the time to buy is when price drops after a private placement. Two examples are Essex and Lysander right now. Another good time to buy is when the insiders do and ride the stock as they promote it.

Share	Recommend \| Keep \| Reply \| Mark as Last Read

To: Sudhir Khanna who wrote (143)	1/25/1997 11:10:00 AM
From: Sudhir Khanna	of 1394

AN OFFER TO ALL: Some people have been trying to get me to start a newsletter for a couple of years. This year I finally took the plunge. My first letter will be e-mailed to paid subscribers on Monday. I intend to send out the letter during the last weak of the month in order to take advantage of any month end selling. I would like to forward a free trial copy, to anyone interested, on Friday. I need to respect my paid subscribers any thus the delay till Friday. The letter is called The Resource Indicator and I am currently offering it for $89 Canadian per year. In addition to the letter, I will e-mail Situation Alerts on an as needed basis. I will also forward my next Situation Alert for free. If you are interested, please e-mail me privately at khannas@gov.on.ca. I will appreciate any comments, regardless of your interest in subscribing. I appologize for getting off topic. I will answer questions that people had in my next post. Thank you.

Share	Recommend \| Keep \| Reply \| Mark as Last Read

To: Robert Saito who wrote (144)	1/25/1997 1:10:00 PM
From: Sudhir Khanna	of 1394

Robert, I think the downside is very little, maybe to the $2.50 level. Below this, it is not worthwhile for the warrant holders to exercise. Besides, once the warrants are exercised, Essex will have $16 million in the kitty. Not many juniors have a war chest of this size. Ian will not sit on the money. They will spend about $3 million in exploration this year (more depending on results). Look for him to aquire more properties, in other counteries, for diversification. Once the rain stops in Bolivia, the sun will sign for both the Essex shareholders and the Bolivian's. You seem very experienced and know that if you are going to invest a large amount in Essex, take some profits along the way, before the drill results. I expect the stock to see $6 before results come out. The only wildcard is the Dow. If it drops substantially, we could see the juniors in trouble. I don't expect this to happen in the next 6-7 months because the stock market in no different than the any other market. It depends on supply/demand. There is too much money out there right now. The feds can't let the market fall yet as they are busy refinancing their debt (using the Japanese money). They just issued the Inflation bonds last week and thus need the US dollar to remain stong, market to perform, and gold to stay down for now to accomplish this. Rubin, the treasury Secratary is a master at this. Even if the Dow falls, Essex is the kind of company the speculators will remain attracted to because of their liquidity, money in hand, and active projects. I see my fingers don't keep up with my thoughts. When the sun "shines" not sign...

Share	Recommend \| Keep \| Reply \| Mark as Last Read

To: don ady who wrote (148)	1/25/1997 1:26:00 PM
From: Sudhir Khanna	of 1394

Don, you have to know the right people to ask and right brokers to watch. Find out which house helped them with the financing and watch their trading pattern. Better yet, save some time and ask the principles of the company. They keep an eye on this and they are the one's getting the money. The results are from one area that has 2 shear zones, running parrallel, on it. The trenches run across these 2 shear zones. It is too early to estimate from these results, as all the trenches done to date have covered only about 1/2 km length of the shears. More importantly, it appears that there is disseminated gold between the two shears and on either side. Geological signatures have traced the shears to a length of about 6 km (not necessarily all on one property). Also in this area the water table leaches downwards thus we should hope to find higher grades the deaper you go. This was confirmed by the last trenches which went to a deapth of 16.5 m (I belive) and grades were improving at depth. For a simple calculation, if the good grades go down to about 50m average depth, than there are approximately 600,000 ozs per km strike length. This estimated by Essex last year. I think I have hogged the thread long enough. I hope everyone has a good weekend.

Share	Recommend \| Keep \| Reply \| Mark as Last Read

To: Sudhir Khanna who wrote (141)	1/27/1997 1:37:00 AM
From: alex graciano	of 1394

Sudhir, I have a small position in ESX that I bought mainly on technical reasons when it broke out from the $2 level. I like their portfolio of properties and the initial trenching results look promising. The only reason I haven't increased my position is I don't feel that confortable with management. I'm curious to know why do you hold Ian Rozier in such a high esteem? I can't agree that he's done a good job at enhancing shareholder value with Chase and Delta. I have hold those companies since 1993 and their stock price has gone nowhere but down,with the exception of a few rallies with well timed promotions. Bishop and Casey were big promoters of those companies in 1993. Later, they stoped writing about them as the goods never materialized. Maybe Ian is good at making acquicisions, Chase and Delta have a large portfolio of properties in the Philippines. Taysan was the jewell of the group and the most advanced still it's been a dissappointment based on the high expectations everybody had, despite their JV with Magma Cooper. No work was done on most of the other properties but Cikondang. Hence, my scepticism with Essex. Have you noticed ESX habit of announcing things in their press releases and keep moving them forward and literally repeating old news? Feb 15/96 announced "agresive diamond drill program schedule for march 96 to test W&E shears at depth" April 96: "drilling program to start in may and later for Marlene" I can go on and on... Drilling for Marlene was schedule for last august! On sept 24 they announced it for last fall??? Also, an RC program for october. Last pr jan 7 they said RC drill just arrived. No word, when the program that was supossed to start in october is going to start. I've read the PR's from february to the present in chronological order and my impression is that this company hasn't been very straightforward One thing for sure, I'm not going to hang until the end. Given the experience with the Chase group of companies I think the best strategy is sell as it moves higher, unless of course if they hit some exceptional holes I would revaluate the situation. Let see wthat the next set of news say. Best regards,Alex

Share	Recommend \| Keep \| Reply \| Mark as Last Read

Previous 10 | Next 10

Copyright/IP Policy

Copyright © 1995-2013 Knight Sac Media. All rights reserved.