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Gold/Mining/Energy : An open letter to jr. gold investers by Ron Pitts 03/27/97
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To: Ron Pitts who wrote (262)5/22/1997 7:33:00 PM
From: Richard Saunders   of 297
 
Ron/ a tho't - not sure how vailid. Talked to an oil specialty broker earlier today - he was indicating that the past couple of weeks he's been receiving a bunch of calls from "ex-jr." mining stock players who've tossed in the towel on the jr. mining thing and are now wondering about the oilpatch. Another conversation in the day with a currently vse listed co. indicated they don't like being branded with all the resource "salt-stuff" and have sped up intention to head towards Toronto listing. Something like $7.1billion has been vapourized in the past little bit - got some of mine too............ YRI, SNF, SNA, etc. Anyways, based on all the gloom and the latest salt-shaker stuff wouldn't it seem like we've come pretty close to the bottom or, in your bunch of seasons of experience, do you still think the sky's going to keep falling towards year-end? Any tho'ts about the possible shift towards oil/gas? There seems to be some value there but it's also filled with potential craters if growth stutters in many instances.............. Just checked out the Yamana thread and saw that Tony Gatto has posted a similar theme - in mutual fund holdings it appears many funds have lightened considerably in golds and have upped the oil/gas holdings........ I'm timed out here otherwise would have posted link to YRI thread.
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