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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: Claude Cormier who wrote (339)6/12/2000 9:24:00 AM
From: russwinter  Read Replies (2) of 4051
 
There is a lot to admire about GLG, as they are basically doing the things I've been mentioning. I call them the Reggie Miller of mining, as like the Indiana Pacer shooter they have the attitude of "if we're going down, I'm doing what I do best, puttin the ball up". The CBJ deal went totally by the market with a yawn but may prove to be brilliant down the road. Besides the properties they bought for song, the picked CBJ's exploration data.

San Martin strikes me as the perfect project in that capital costs are modest at only $27 million. Why do they continue to screw around with underground mining at Dee? Not really their forte is it? Shouldn't they just sell to one of the majors up there and move on? How bout El Sauzal instead? Imperial will probably never make it, and just as well.

Hedging: Fairly modest, but low prices. 65,000 forwards @ 288, and 60,000 call writes @ 295. Hopefully they deliver those and do not reestablish.
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