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Gold/Mining/Energy : Precious and Base Metal Investing
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To: russwinter who wrote (831)12/12/2001 9:50:04 AM
From: Claude Cormier  Read Replies (1) of 39344
 
Russ,

ELD is really cheap for its gold assets. However, it is on the hedge. Its balance sheet is not in good shape. The way I see it, they could go down and be taken by Goldfields if gold stays at current levels or move down in the next few years. On the other hand, if gold starts its bull, ELD will be among the top performer. I can see ELD rising progressively to $3-$5 with gold at $400 or so.

For the short and Intermediate term, I don't see how they gonna finance Kisladag. Do you know more about this ?
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