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RTs:
Aggressive speculative equities traders may be interested to know
that Sungold Gaming (SGGNF, OTC-BB) will commence trading Dec. 30.
This Canadian gaming development company had been trading on the
Vancouver Stock Exchange, but was halted in Feb. '97. Sungold
has voluntarily delisted from the VSE, and has just succeeded in
listing on the Nasdaq OTC-BB. The company has four major projects
in development: two resort style gaming/casinos in South Korea;
an international horse racing and gaming centre near Vancouver;
and a Native/Indian casino in Michigan. Each project will cost
several hundred millions. Sungold has about 15 million shares
with less than two million shares in the public float. The company
develops the projects and then forms joint ventures with casino
operators and financiers. The potential revenue from any one of
these projects could realistically support a share price over $20.
Between Oct. '96 and Feb. '97 the share price went from about $2 to
$18 (Cndn) before being halted. The shares have since split 3 for 1.
There are 750,000 declared shorts, making a short squeeze possible.
There have been three positive announcments in the past month and
more releases about the Michigan project are expected in the
next few weeks.
Shareholders have been unable to buy or sell for the past ten months.
No doubt some tired shareholders will sell quickly and cheaply near the
opening. A low risk, high reward speculative trading opportunity may
occur in the first few days ofter the opening on Tuesday Dec. 30 if
trading starts in the $1 - $2 range.
I own a small position in Sungold but have no other connection with
the company.
More information can be found at:
http://www.sungoldgaming.com/
http://talk.techstocks.com/~wsapi/investor/Subject-10794
John Lawrence
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