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Gold/Mining/Energy : Trump's 12 Diamond Picks, Discussions Limited
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To: skelly who wrote (1758)12/9/1998 7:12:00 PM
From: Tomato   of 2251
 
Don't know if anyone posted this before:

Forbes says diamond stocks attractive

Aber Resources Ltd ABZ
Shares issued 45,502,883 Dec 8 close $8.10
Wed 9 Dec 98 In the News
Also Dia Met Minerals Ltd (DMM.B)
Also SouthernEra Resources Limited (SUF)
Forbes magazine says in its Dec. 14 issue that paradoxically, the current
oversupply of diamonds may have made shares of diamond miners a screaming
bargain. Writer Benjamin Fulford says that if today there is an oversupply
of the stones, there may well be a dearth in the future. De Beers spokesman
Roger van Eeghen says that some of South Africa's and Australia's mines are
winding down, Russia's require new investment and production from Angola
and Congo has been disrupted by war. At $5.30 (U.S.) a share, buying Aber
Resources shares is equivalent to buying rough diamonds for $21 (U.S.) a
carat, according to Merrill Lynch mining analyst Michael Curran. The
average value of the mine's proven reserves is more than double that, $56
(U.S.) a carat. Mr. Curran notes that Dia Met Minerals, at $13.49 (U.S.) a
share, equates to a cost per carat of $55 (U.S.), compared to an average
value of $100 (U.S.). SouthernEra Resources, at $5.40 (U.S.) a share,
equates to a cost of $56 (U.S.), compared to a value of $110 (U.S.).
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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