PHILEX GOLD INC (PGI) - TSE.... Trading at under 30% book Message Board

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Gold/Mining/Energy : PHILEX GOLD INC (PGI) - TSE.... Trading at under 30% book

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To: Jon Matz who wrote (38)	4/26/2001 11:53:03 PM
From: Ron Struthers	Read Replies (2) of 86

Hello Jon, I'm sure Claude will respond. I have been following the company for a few years, bought it, took a stop loss as it went down with the rest of the golds and suggested buying back near the end of 2000, based on this property. Have already sold some to remove seed capital and If I were to buy, I would see how far it falls back. These stocks quite often, come back down a fair way after news. It will probably be 6 weeks for the next drill results and it could come back to the $1.00 range in the mean time. Then, of course the drill results will decide the next move. The one hole is a deep extension of the 2 high grade intersects and this will be what to watch for in the next drill results. I expect the other 2 holes will be in lower grade stuff. They also produce gold and are marginal at these gold prices, with uneconomic resources in the ground, so the stock can also move with the gold price. They are not very strong financially, but Anglo is footing the bill for exploration. Phillex Mining is the parent company, owns most of the stock and provides technical expertise Hope this helps. Ron

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