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Gold/Mining/Energy : SSRIF Silver Standard Resources
SSO 88.56+1.0%3:11 PM EDT

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To: baystock who wrote (387)12/20/1999 12:15:00 AM
From: Claude Cormier  Read Replies (1) of 403
<<Don't you think BAY has peaked ?>>

It is always possible if all goes wrong. I mean, if silver move decisively below $5, if the recovery rates at Alamo Dorado are only at 60% and if they do not add to current reserves...then yes..BAY will have problems to make a new high past $3.04.

But the probabilities are that silver will continue to trade around $5, that the recovery rates will approach the rates in the preliminary tests and be between 65 and 70% and that more reserves will be added.

IOW, I think that those who recently took a private placement at $3 are right. BAY is likely to move much higher.

The NAV with silver at $525 and very conservative recovery rates of 60% is near $5... With 70% recovery rates, the NAV is above $7, so a target of $4 appears to be extremely conservative on an acquisition basis.
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