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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: loantech who wrote (3920)	12/31/2005 9:42:22 AM
From: tyc:>	of 78410

Yes I still own Novicourt. Why not ? Here is a posting I made on the NOV thread on Stockhouse: "I was just reviewing a couple of old books that got me started in this game. Written by the same author,Shulman, one was "Anyone can make a Million", and its sequel written five years later in 1972, "Anyone can STILL make a million". In both books there is a chapter on penny mining stocks in which he mentions a couple of real successes of the era, and of course the usual promotional failures. He wrote; "How can other ... successes.. be recognised before their stock has moved 'way up in price ? These mining successes all have five features in common; a. They are never sold over the phone. b. No promoter recommends their purchase. c. Their treasuries all contain substantial funds. d. From 25% to 80% of their stock is held by one or more large producing mining firms. e. The amount of stock issued to the public is small, usually less than one million shares. "There are always a few such stocks available, trading at very low prices, and their history has been almost universally a good one....... These are the only situations in the mining market where the purchaser is almost sure of making profit. "What this chapter boils down to is, never buy tips or promotions.... The chapter ends with this advice; "In summary the investor should stay away from all penny stocks, while the speculator should stay away from most penny stocks. If you are going to gamble in the penny market, pick a subsidiary of one of the big companies." That final paragraph reminded me again of Novicourt. Most of the time, the majority holder has been Noranda. Noranda amalgamated with Falconbridge, and the two of them are now amalgamating with Inco. Geez ! How could one hope for a better majority shareholder than that ? And it trades below its cash and working capital.

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