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Gold/Mining/Energy : FREEWEST RESOURCES T.FWR / M.FWR
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To: russwinter who wrote (212)8/2/2001 12:16:00 PM
From: Bruce Robbins  Read Replies (1) of 253
 
I do not know if you can get a hold of a copy of the CIM's "Exploration and Mining Geology" for January 2000 (volume 9 #1). It was just published and there is an interesting article by Chris Blain (formerly of BHP Minerals) entitled "Fifty-year Trends in Mineral Discovery- Commodity and Ore-type Targets". The author used BHP's extensive "disovery database" which records the details of over 500 discoveries between 1950-2000. Among other interesting facts, an interesting quote to ponder:

the main consequence is that many of the traditional profit-making opportunities either no longer exist or their margins have closed rapidly. The only real lasting profit-making opportunity stems from resource quality- those giant high-grade orebodies that sit at the bottom of the cost curve.

This is the "big company" view. Until we see gold over $350 it will remain in their minds. Barrick, Dome, Noranda, Falconbridge, Cominco, RTZ, BHP, INCO, Anglo, etc are thinking and acting with this view. The YMC.U portfolio of properties and Turkey has the giant high-grade bottom of the cost-curve look to it. PFN has this too with River Valley. CBD does not have the bottom of the cost-curve look to it and so WMC is selling. Clarence Stream does not fit the giant high-grade bottom of the cost curve model IMHO. Freewest is not a producer and IMO is interested in making a deal with a major. I do not see any majors moving on Clarence Stream until gold moves significantly higher. Armed with that knowledge, you can't blame the speculators for speculating. The investors will step in when there is some certainty <bg>...
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