Hey Michel, isn't that Dydo guy a stickler for details? IF...IF gold can come back to average 320.00USD for 98, I like ELD. They trade at .64(52week high: 9.70). Highlights:
- 1.5 mil oz at Sao Bento mine (910,000 oz proven and probable).
- three producing mines, will produce about 200,000 oz in 98.
- Hegde to 2003 - 75000 oz year at 375.00USD.
- hold 2.8 million shares of Treminco.
- agrresive writedowns this year (43 million).
- cost cutting measures are inplace.
- properties, some with jv's in, Brazil(largest holding), Argentina,
Mexico.
The only criteria not met here is the issued shares, it totals about 7o million. It would appear the company is in survival mode, but if you are a contrarian and believe that gold will come back( we both know how you feel on this), it might be a good buy.
Hugh |
