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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: baystock who wrote (789)4/19/2001 2:42:09 PM
From: Claude Cormier  Read Replies (1) of 4051
 
<I sold some PAAS and bought BAY with the proceeds. >

Good move. Will make a well balance silver PF together with HL.

<A cursory look at Fransisco shows that with a C$80 million market cap and C$30 million cash it doesn't have enough leverage for me. Extremely low cash cost deposits are fine by me, but only if they don't come with a huge premium. >

True. The leverage of a cash rich stock with 3M ounces of low cost gold selling at $C80M is not the same as a Minefinders with 4M-5M ounces and selling for $C16M.

First the premium is very low. $50M for a 3M ounces gold deposit that will have a cost of $90 is dirt cheap.

But what you may fail to realize is that Marlin has already near 1M ounces of low cost gold. What is more important is that FGX holdings in Guat are another large gold trend that has dozens of potential multi-millions ounces gold/silver deposit.

This is akin Tanzanie was several years ago when Sutton & all made their discoveries which were all acquired by the seniors.

The big difference is that FGX owns it all. More than 6000 sq. km within the favorable trend. No wonder, Barrick, Placer, Homestake and GoldFields are watchin like hawks.

I don't know how this wil unfold... but my bet is that FGX will go for several fold the current price.
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