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Strategies & Market Trends : the times they are a-changin'

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To: marcos who wrote (10)	2/10/2002 12:21:41 PM
From: tyc:>	Read Replies (2) of 145

>>well gee, why exclude producers. Don't overlook Northgate Explorations with its Kemess mine in British Columbia. I spoke about it on the winter thread, and as usual it has gone over like a lead balloon. (It seems to me that a mine is "not without honour save in its own country". Everyone seems to prefer exotic places these days). They are reorganizing the financial structure... a reorganization that will see Trilon (of the Brascan Empire) locking up the cream by way of a $90M 8% convertible preferred share issue. However, IMHO there is plenty of upside left for the common in this bullish gold market... and what's good enough for Brascan is good enough for me. the South Kemess has 3,000,000 ounces of reserves; the North Kemess adds another 3,000,000 ounce resources. There is shortly to be a rights issue affording shareholders the right to buy shares @ $1.26. You mention Kinross, and I too am very bullish on it. However, WRM got 4M shares of K in exchange for the George Lake project. WRM mines is being advised by Pierre Lassonde and I note that WRM has sold 1Million of their 4Million holding. What does that say about the market value of K ?

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