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Gold/Mining/Energy : Alta Gold

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To: Bucky Katt who wrote (81)	4/3/1997 5:28:00 PM
From: virgil vancleave	of 749

anybody have any news about alta lately? is the current price weakness a buying opportunity or does it indicate something else. i have been out of town for a while so haven't kept up with it. alta is a good company and it is most impressive that its profits don't go towards corporate offices and such. just wondering if we should all be buying more at this price. i did find that their reserves of gold are over 1,000,000 ounces. they have their mining cost in the 10k as about 270 per ounce(high end of range given) and with gold at 350 that is a profit of 80 per ounce. gives a profit of over 80 million on gold alone. this does not include any of the other metals they also mine. at present the market cap of the company is at about = to the profit potential with no thinking about growth for the future. company has been expanding reserves 30 + percent per year and as someone else mentioned have just scratched the surface at olinghouse. maybe they are issuing more shares or insiders are selling to drive the price down. gold seems to be stable and looking to move up so it appears unlikely of insider selling. any opinions? virg

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