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   Gold/Mining/EnergySilver Standard Resources Inc. NSC: SSRI CVE: SSO


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To: Robert J Mullenbach who wrote (137)12/22/2001 10:05:15 AM
From: Stephen O
   of 165
 
Has anyone a breakdown on the valuation of the individual projects of SSRI, ie the percentages you would ascribe to each?

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To: Stephen O who wrote (138)12/26/2001 2:24:22 AM
From: Robert J Mullenbach
   of 165
 
Silver soars

NEW YORK (Dec 22) - Silver prices jumped Friday in what traders described as a supply squeeze ahead of the four-day Christmas holiday market closure.

At the COMEX, silver led precious metals higher in thin, pre-holiday trading. Silver for delivery in March closed 7.2 cents higher at $4.472 an ounce, trading at its highest levels since Oct. 12.

Prices stayed supported by a relentless rise in lease rates for silver bullion, dealers said. One-month silver lease rates spiked to around 27 percent late on Friday, their highest since severe tightness brought on by a massive 130-million-ounce silver purchase by billionaire U.S. investor Warren Buffett in 1997 and 1998.

There has been no clear indication of who is behind the squeeze in recent weeks, which has inverted silver forwards from their normal contango structure to backwardation, a situation where spot prices are higher than forwards.

"It's a genuine squeeze," said a dealer at a large metals trading operation. "The people who know aren't talking, and the people who don't know are talking more than than they should. I'd be happy to admit that I don't know."

In a backwardation, speculators can earn the difference between low U.S. interest rates and high silver yields by buying the metal at the forward discount.

Silver's buoyancy carried over to gold. February gold closed $1.80 higher at $278.30 an ounce, ignoring more weakness in the euro currency on Friday. A weaker euro typically weighs on gold prices by making dollar-denominated precious metals less attractive to European consumers.

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To: Stephen O who wrote (138)12/26/2001 12:34:55 PM
From: Claude Cormier
   of 165
 
Stephen,

None of SSRI projects have a net asset value because, according to the company, none are economic at silver prices below $6-$7.

That is why the company is calling itself a perpetual call on silver. For now the call is out-of-the-money and the price of the stock is all premium.

SSRI's strategy will pay off big time if silver moves to $7-$10, but the stock will eventually go to $0.25-$0.50 if silver never makes it above $6.00

IMO the SSRI strategy of continuously diluting their stock to acquire high cost projects is very dangerous for its shareholders.

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To: Claude Cormier who wrote (140)12/28/2001 3:11:15 PM
From: Stephen O
   of 165
 
I was really wondering if someone has apportioned the current share price across their various projects, ie 30% to Bowdens, 25% to Manantial espejo or has an idea how the company thinks of the projects.

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To: Stephen O who wrote (141)12/28/2001 4:11:08 PM
From: Claude Cormier
   of 165
 
There best two projects:

Bowdens: 60M ounces.. needs $6 silver for a 20% IRR

Manatial: 45M ounces.. needs $6 silver for a 20% IRR
* assuming 50% BHK/50% SSRI

These two are approx. 25% of all resources.

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To: Claude Cormier who wrote (142)5/3/2002 1:33:00 PM
From: Outer-limits
   of 165
 
Just added to my reentry position today at about 2.98!! I've been waiting for a pullback to do so, but decided it wasn't pulling back anytime soon. DAQ also pushed me into due to likely seeing of the 1500s later today or sometime next week. Silver should continue to do very well in these terrible stock market times, AND more importantly the fact that silver prices should slowly improve with increased economic activity. Looks like I bought more just in time!!!

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To: Outer-limits who wrote (143)5/3/2002 1:44:06 PM
From: Claude Cormier
   of 165
 
Well I don't see any reason to buy as I do not think silver is going above $6 anytime soon. But since there is good promotion for SSRI, the stock will go higher. ON the other hand, if I am wrong and silver gets above $6-$7, then SSRI will be a top performer.

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To: Claude Cormier who wrote (144)5/3/2002 2:47:37 PM
From: Outer-limits
   of 165
 
I understand your reluctance to buy. I traded this puppy from 1.55 to about 2.20, and refused to get back in until about a week ago. You've said you didn't think we'd get back to 6 bucks (important number for SSRI to make more money getting silver out of the ground). Question for you though is: How do you know silver isn't going to 6 bucks?? Would anyone have called for Gold to go back above 300 bucks 6 months ago?? Probably not many!! I've got a co-worker who sold several stocks to purchase even more SSRI down around 2.80. He's smiling from ear to ear at the moment. Remember too, that the US government has been slowing replenshing their silver supplies, which were down to around 10% late last year. This should continue for some time!!!!!

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To: Outer-limits who wrote (145)5/3/2002 3:43:57 PM
From: Claude Cormier
   of 165
 
<Question for you though is: How do you know silver isn't going to 6 bucks?? >

I don't know. But judging by its behavior right now. It will be tougher for silver to move to $6 than for gold to move to $400. A a lot thougher.

I am still bullish on silver..but my target is $5.25-$5.50. And with that range, I am not gonna buy SSRI when a stock like BAY is available. If silver start to move more than it has done and the gold/silver ration start coming down below 60:1 then I will start buying PAAS and SSRI.. but for now, I feel BAY is the only one that make sense as the best primary (soon-to-be) silver producer.

<Would anyone have called for Gold to go back above 300 bucks 6 months ago??

Gold and silver are different beast.

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To: Claude Cormier who wrote (146)5/4/2002 12:17:46 PM
From: Outer-limits
   of 165
 
At least Silver must be used for many industrial applications. I really like SSRI's chart pattern. Don't see any reason Silver won't go to about 5 bucks an ounce. This should catapult SSRI up to at least the 5 dollar plateau. I'm sticking with it, and adding more. Except for my drillers its the only thing in my portfolio that's actually working. Hey, who do you like in the Derby????? I'm leaning toward Perfect Drift.

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