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Strategies & Market Trends : Winter in the Great White North
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To: marcos who wrote (797)5/30/2001 7:59:49 AM
From: tyc:>  Read Replies (1) of 8273
 
Postscript:

You make the point that it will take so long before IMN benefits. Would you please consider this.

1. Antamina presumably will be very profitable from the start. For that 3.3% portion that I call AntaIMNa, who enjoys the early profits ? Not the majors surely, for they are only going to get their money back. THAT's NOT WHAT PROFIT IS !.

2. Isn't it REALLY as if the early profits were accruing to IMN, and IMN were using them to repay its financings, provided by those two majors ?

I was musing with Johnny Walker last night. He made a valid and profound point. He said, "When it comes to valueing mines, the market is an ASS". Unfortunately, other things he said have given me a headache.
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