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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: yard_man who wrote (178618)7/10/2002 7:16:17 AM
From: orkrious  Read Replies (2) of 436258
 
I bought mining shares not options

Either I misunderstand you or you are misreading the article. the author is saying that instead of valuing gold stocks solely as the present value of future cash flow, the market is valuing them at a combination of that plus an option that includes in its valuation model the valuation of the Company's gold reserves.

I suppose you can argue that this option itself is just part of the future cash flow, but either way I found the article interesting.

ork
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