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Gold/Mining/Energy : Precious and Base Metal Investing
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To: Elizabeth Andrews who wrote (2192)3/7/2002 10:58:39 AM
From: Claude Cormier  Read Replies (2) of 39344
 
Eliz,

<It has by far the most leverage and is the stock that is going to outperform the group no matter what gold does. >

NEM will certainly be among the top performer and will do better than the group. But many other stocks will outperform NEM.

There are too many special cases. Many juniors own deposits that are marginally economic now. They are selling for $10 per ounce. If gold goes to $400 they will be selling for $100 per ounce like they did in the mid 1990's. Even a NEM, which I like very much, cannot beat that leverage.

There are also those small producers selling for very low cash flows multiple... stocks like Richmont. RIC has outperformed NEM in the last year and will continue to outperform if gold moves higher.
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