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Well Rand is replete with felsic horizons and has a huge mag anomaly in it. Adjacent Munro has some good geology and has the Potter which the Harrison group is working on and they say it may go to 10,000,000 tons. that copper horizon in there is quite extensive and it has Kidd Creek or Tholeitic-komatiitic geology which is very unusual.
This is the right area to go Elephant hunting in. Falconbridge also has a 6 million ton 1% copper, 1% zinc deposit in there and not too far away to the south is Sheraton Towship which has Middeltons 2% copper Cross LAke Minerals discovery (part of which I staked for a prospector from Timmins)
If you go further east you run into the giant copper zinc deposits of the Noranda Camp. It was always easier to raise money there so most of the stuff got found on that side of the political line. Similar geology and the same faults run through Ontario (I was going to say Canada) and not too far away from Rand.
I am really encouraged and bot some today. If you read a couple of items on the bull board there you can get an idea what they are looking at. Only a really small float and these types of things have been flying.
investcom.com has the news. After getting GXM, click on Company News on right margin. It also has direct connections to SEDAR and Silicon Investor. Nice web site.
Negotiations are on with two private high tech companies. Not much details at this time. One has inventions which benefit computer users, while the other involves the media. Both are in early stages of development, but require a public company to get things started.
Have to wait until an agreement emerges. In the meanwhile, Tyranda property will be drilled in the second half of Feb.
Page 3 Northern Miner (current issue) GXM has an ad seeking JV partner for a Mexican property. 1.1gms Au. and 17gms silver over 160 meters in chip samples. They have two mining properties and want work done on these to see whether anything exists, while looking at high tech opportunities.
It appears that I am a significant shareholder now. I averaged down to where breakeven point is within range. Why I held on over past 3 years, besides trying to get out at a profit, I felt that the mining industry would turn around faster. Now I realize that must go with the flow. We have witnessed many juniors changing over to high tech and internet. Also seen their prices go up in majority of cases. I believe GXM will be no different if the proposals are good revenue producers. I still don't know what the two private companies have to offer in terms of future profits. Like the news release says, more info will be given as time passes. In the meantime, Geodex is open to any other proposals. They have a tight share structure with insiders holding a bundle and no debt. Less than 6 million o/s shares and little worry about principals unloading their shares. Myself, I am holding tight to my holdings. All this will make for a price sensitive stock, what we all prefer to have.
I have used the averaging down technique and now show a profit. This was possible with high tech coming on the scene, which made GXM turnaround a reality. In most circumstances however, care should be taken when averaging down.
For Agate Bay holders whose stock price reached $1.50 in 1996, it would take $6.00 equivalent for GXM to match. (4:1 consolidation)
Should have a news release in the coming weeks. Talked yesterday to Mr. Maris-President, and everything is progressing well.
I interpret that a significant change has occurred on the moneyflow histogram. Also, bottom prices have been forming at progressively higher levels for the past 4 months. Any comments?
As of June 16th MF -10 and R/F -6 at 27cts. Both could be indicative of impending price movement.
Technical analysis was accurate in calling major turn in 1996, plus price changes in other companies. Now trying to prove the system is statistically accurate at 95% confidence level. The timing when to buy still requires work as well as LT vs ST. Good subject for masters thesis in commerce.