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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Joan Osland Graffius who wrote (35173)4/30/2002 11:57:07 PM
From: Follies  Read Replies (1) of 52237
 
I have to interupt this discussion. The PE on a gold mining stock means little compared to the amount of gold reserves and the cost to extract them. If they have reserves of 10 mm ounces with an extraction cost of $200/ounce, the value is $1,000,000,000.00 (1 billion) not taking in to account ROI and cost of capital etc.

HGMCY could close their doors for 1 quarter and have earnings of $0.00 (which is a PE slightly higher than Brook says) and their value would not diminish.
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