Meridian: Got to love these guys, at least they are fighting to maintain reserves. The only company I've seen yet to INCREASE their exploration budget for 2001, $3.5 million ($14 million pace)in first quarter, up from 9.5 million for 2000.
The Good?:
El Penon: Tremendous economics 285K @ c.c- 50, 1,532,000 reserve at year end. Has a large resource 1.2 million. Exploring, so likely to extend mine life. End of decade? Maybe wishful thinking.
The Bad and the Ugly:
Jerritt Canyon: 95K @ c.c- 217, 400k reserve to 2004. MDG has always been able to extend mine life here, but mostly because they love to drill. At 217 c.c is it really worth it? See post 1631.
Beartrack: produced 72K in 2000, is now depleted, leaching out last ore.
Mixed feelings about MDG. Among the producers I admire their tenacity. One of those companies that deserves success. But 267 POG is a killer, even for them. Really need to get lucky exploring and as I posted this morning the high jump bar is set high. I traded it from 5 to 7 earlier, and would probably buy again under 6. Good financials helps. |
