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Gold/Mining/Energy : BEST Gold Mining Stock
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To: CLK who wrote ()12/16/1999 1:56:00 PM
From: CLK  Read Replies (1) of 10
 
My proposal for the best as of this date is GCC on the Pacific exchange - Golden Cycle Gold Corporation. Last trade was 5 7/8. 719 4719013 is their phone number. Located in the historic Cripple Creek district of Colorodo, they are in an area where historic production was 20 million ounces. Current proven and probable reserves are 4.6 million ounces with an additional resource of 3 million for a total of approximately 7.6 million ounces. This years production will be 240,000 ounces at a cost of $165-170 per ounce. Their partner is the largest gold producer in the world in Anglogold (AU on the NYSE) with 7 million ounce a year production and very deep pockets. Anglo is expecting a 50% increase in reserves, and is planning a 33% increase in production. Cycle has only 2 million shares out and a 1/3rd interest in the project. The joint venture is owed 50 million for Cycle's account but they have no debt that comes due and this gets paid down quickly as the gold price rises. The math gives about 1.25 ounces per share. This compares with Anglo with 140 million ounces and 200 million shares out having .7 oz per share. Few others can compete, with FCX and NEM being among the few with more than a tenth of an ounce per share. Thus I propose that you get more leverage on the gold price with Cycle than with any other choice. In addition, Cycle's position is completely unhedged. Thus I propose it as a strong contender for the Best gold stock at this time.
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