Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Sharp_End_Of_Drill who wrote (93732)	8/14/2001 10:03:15 PM
From: Frank Pembleton	Read Replies (2) of 95453

ECO in particular Sharp. My guide to buying gold stocks usually consist of companies that are; debt free, cash in the bank and massive reserves that are located in North America, Canada preferably. If the cash cost is $200, so what? I don't care as long as there is lots of it -- that’s leverage my friend. I looked at Echo Bay and passed on it about 5 months ago. Reason? At the end of 2000, Echo Bay had 5 year mining reserves, with negative working capital of $70 million. The fact that the company has negative working capital would indicate exploration isn't a top priority. Shareholder equity is -$35 million, yes that minus number again. Also, 30% of their gold reserves are sold forward at $310 an ounce. Oh! One more thing, total debt exceeds yearly revenue. Strong sell! Glamis Gold is something I'm working on; I'll keep everyone posted. Regards Frank

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next