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Gold/Mining/Energy : Daugherty Resources, Inc. (nasdaq: NGAS)
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To: Mr. G. Rottweiler who wrote (2)6/10/1999 1:45:00 AM
From: Intrepid1  Read Replies (1) of 59
 
I took a look at their latest financials at: sedar.com .

Those "assets" are in fact primarly expenditures made over the years on mineral properties. For some reason accounting convention allows mining companies to book expenditures on mineral properties as assets. This is misleading and one should never value a mining company by the amounts spent on failed exploration attempts. These properties are non-producing and these assets can quickly become losses if and when those properties are abandoned.

In fact the company's revenues from its gas properties are down drastically from last year and its loss per share is rising.

I can show you a zillion mining companies with "great assets".

That being said it looks like a tightly structured company listed on a good exchange.

etc.

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