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Gold/Mining/Energy : Homestake Mining
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To: long-gone who wrote (398)7/7/2001 10:15:00 AM
From: Rarebird  Read Replies (2) of 415
 
Jack Thompson was as bullish on Gold as you since the Fall of 98. This is why he bought so many properties using HM's stock over the past couple of years, some of them tremendous values, like Veladero, diluting shareholder value in the process.

Guess what? The Gold Bear continued and HM ran out of money to develop these properties. The increased hedgebook during the first half of this year was a reflection of that.

HM had no choice but to sell out to a cash rich producer.

HM shareholders should consider themselves lucky here given the fact that Jack Thompson mistimed the end of the Gold Bear.
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