Wheaton will move up because there will be .21 US per share earnings this year. They sold foward 54,000 ounces at $302 US. That means the Co has a PE of 2!!!!! There is no debt.
This is a $2 stock at $300 per ounce levels. The only risk in gold is higher price levels means more higher cost mines will openand will produce more gold. Wheaton has places at Golden bear mine that could be mined at the $330 price level. Thus producing more gold. No we will see $300 -$310 spot by xmas.
And maybe a y2K scare to $350 that is all IMHO
regards mr ed
Tuesday September 28, 11:51 am Eastern Time
Company Press Release
Wheaton River's Normal Course Issuer Bid Accepted
by The Toronto Stock Exchange
TORONTO, ONTARIO--Wheaton River Minerals Ltd. today announced that the Toronto Stock Exchange has accepted
notice of its intention to make a Normal Course Issuer Bid for its common shares through the facilities of the Toronto Stock
Exchange. The notice provides that Wheaton River may, during the 12-month period commencing September 30, 1999 and
ending September 29, 2000, purchase on the Toronto Stock Exchange up to 2,019,675 common shares in total, being
approximately 5% of the outstanding common shares of Wheaton River. The price which Wheaton River will pay for any such
shares will be the market price at the time of acquisition and any shares acquired shall be cancelled. The actual number of
common shares which may be purchased and the timing of any such purchases will be determined by Wheaton River. A total of
1,432,500 shares were purchased by the Company at an average price of $0.22 per share for cancellation under the Normal
Course Issuer Bid that expired September 14,!
1999. There are currently 40,393,507 shares outstanding.
Wheaton River believes that its common shares have been trading in a price range which does not adequately reflect their value
in relation to Wheaton River's business and its future business prospects. As a result, depending upon future price movements
and other factors, Wheaton River believes that its outstanding common shares may represent an attractive investment and a
desirable use of a portion of its available funds. |
