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Gold/Mining/Energy : Alta Gold

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To: Bill Zeman who wrote (119)	5/4/1997 11:26:00 PM
From: virgil vancleave	of 749

with the admission of falsified gold finding by bre-x, gold may recover to 360+. that would definitely boost alta again. and with the intrinsic value here, when production improves alta could really move. support is around 2.25. below that it is 1.67. resistance at 3 now. then 4. 3 was good support level for a long time. also 1.50 was a long baseline before price took off. reserves expanding by 30 percent a year for last 2 years. these could easily put alta in the low teens in a year, unless the story changes. i also agree that alta could very well be a buyout target since they have good proven reserves and excellent new properties but little funding to get their mines up and running. if they can get copper flat permitted, the profits on it alone is worth more than the market values it at this time. 500 million lbs of copper at a production cost of .62 (stated by management). with copper holding at 1.10 per lb, that is a profit of 240 million. with 29 million shares, this means alta's copper profits are worth 8.27 per share. i have been following this one for a year and like it even more now that i have done some extra research this weekend.there is no doubt that i will be buying more.

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