Int'l Wayside Gold Mines Ltd (IWA-VSE) Message Board

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Gold/Mining/Energy : Int'l Wayside Gold Mines Ltd (IWA-VSE)

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To: russet who wrote (1018)	4/28/2000 1:52:00 AM
From: Elizabeth Andrews	Read Replies (1) of 1321

Russett you have to be, in my opinion, a little more critical and not repeat company baloney. Before I had a child I expected to have one but I only had one when I was pregnant. There' a huge difference in these states. That's all Homestake is saying. They expect things at such and such but until they are mining they don't know. So much of the game between the majors is posturing and baloney. The average grade of the deposit is 0.052 oz/tn which is low and everything has to be perfect for that type of deposit to make money today. Take a look at Barrick's financial statements right now. Pretend it's a high tech stock. You would buy the stock like crazy until you found out it produced gold. Then your interest would go because it's not in fashion. So I what I'm trying to deal with myself and maybe trying to help you through the mist of fortune, as well as me, is that free cash flow really drives the value of a stock. And for long periods the market is and can be very irrational. Sooner or later the lowest cost producer will win. Homestake is not one of them and I do not believe that Veladro lowers Homestake's average cost of producing an ounce of gold. In this environment of low gold prices for a long time why are they going to put a property into production that raises their average cost of producing an ounce of gold? Oh, and for everybody on the IWA thread who believes that the sulphide-gold replacement mineralization is a new discovery, it's not. It was recognized a long time ago and was mined as high grade. The zones where this type of ore occurred were very erratic and badly faulted which made continuity an issue and raised mining and development costs significantly. So why is it different now? Anyhow, where are the results from hole #9? Doesn't anybody care about the Company's negligence in not reporting this hole?

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