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Gold/Mining/Energy : Pinetree Capital-PNP-CDNX
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To: Buckey who wrote (31)12/13/1999 3:42:00 PM
From: Professor Dotcomm  Read Replies (2) of 233
 
You are right to be suspicious of NAVs and market prices. Just look at BCE and Nortel! However my original point a week or two back was that people did not even know that PICA and MNTX even had any LUMM.

Right now PICA and MNTX have lower discounts than they had - but it is still much too large in my opinion as LUMM is still looking strong. PICA is a better bet than MNTX as it has other investments that are doing well whereas MNTX is more of a pure play on LUMM - a kind of a LUMM warrant which is pretty speculative! At their present prices PICA looks a better price although this may change if the price differential widens to over $1.

BTW - if LUMM goes up (or down) $10 this represents $1.50 per PICA and $0.83 per MNTX.
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