Precious and Base Metal Investing Message Board

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Gold/Mining/Energy : Precious and Base Metal Investing

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To: lbs1989 who wrote (4223)	6/9/2002 10:44:53 AM
From: russwinter	Read Replies (2) of 39344

<keep things in focus> State of the market June 8th: Right now I think there is a fairly large analytical and valuation gap opening up between early and advanced projects. And the valuation gap between actual producers and these two lower tiers is now absurd. In fact I'm amazed at how slowly the producers are taking advantage of the spread by offering stock swaps. From my conversations in Vancouver with the players, the producers are still looking for the tooth fairy. That wasn't the case last year as the advanced stage projects we've hit the home runs on were being given away too. That's changed. The best theoretical project values (TPV to borrow from Kaiser) are in the earlier "real" grassroots plays. They may also be in some other PMs like diamonds, that have recently fallen out of favor. I define "real" as real geologists, real prospects, and real activity. There aren't too many of those, and that's the area to keep an eye on.

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