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gary schrimpf

12/07/03 8:13 PM

#178424 RE: From the East Bay #178422

East Bay and Zeev:

It was not my intent to single out NEM as a company which had a cost of production of $200 per ounce. My intent was to use a theoretical value of extraction costs to back up my hypothesis. I probably should have used the letters XYZ or something similar in nature to denote a company stock symbol.

As for trading I basically only hold some biotechs long term and mostly daytrade "news" while having no opinion on NEM. In the PM department I only hold bullion but have traded PM stocks in the past.

Sorry for the inconvenience and my apologies to Zeev if I mucked up his board. I did state last evening I was not about to put MYNG up on a cross and do an in depth study of how they have screwed investors through the years. I felt that the press release of 1998, stock flipping by insiders, and the dilution statistics would be far more evidence than necessary for anyone who was serious about starting DD.

Edit: I also hold some CEF.