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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Elizabeth Andrews who wrote (2112)	3/3/2002 2:05:10 PM
From: russwinter	Read Replies (1) of 39344

<Since MNP acquired Mt. Kare the property has swallowed C$39 million and has had 235 drill holes poked into it.> True, but at a dime we get the benefit of paying only a three million market cap (with a million cash) for those 267 holes. Clearly an unfinished project that should be handled by a much larger company (I'd say about a US$7 million 50% exploration earn in with PDG, or with one of the Aussie firms at Porgera), but not one without some merit and I think should be more than just a promo play. Unfortunately a million bucks doesn't buy much exploration there, so you may get your wish.

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