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Gold/Mining/Energy : A to Z Junior Mining Research Site

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To: 4figureau who wrote (917)	8/10/2002 12:09:00 PM
From: 4figureau	Read Replies (1) of 5423

Gold and the Dollar A Comparison of Gold Stock Valuations Steve Saville posted 10 August, 2002 >>There are always trade-offs in the investment world and, as is often said, leverage is a double-edged sword. Those who pile into the stocks that offer the most leverage to the spot gold price will achieve greater profits during a gold rally but will suffer greater losses if gold does not rally. Goldcorp does not offer anywhere near as much leverage to the spot gold price as KGC, but it appears to have better management, higher quality assets and less downside risk than KGC. Harmony offers enormous leverage and superb management, but investors have to accept significant and somewhat unquantifiable political risk. If all of Harmony's assets were located in North America the stock would be trading at $35 or higher, so investors need to decide for themselves whether the huge discount adequately compensates them for the risk.<< 321gold.com

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