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Gold/Mining/Energy : Precious and Base Metal Investing

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To: marcos who wrote (11204)	5/20/2003 3:34:38 PM
From: russwinter	Read Replies (3) of 39344

<it's more of a psychological barrier than anything.> I think you're missing the points I've been raising. #1 The Canadian brokerage and mining finance sector is awful. Churn and burn all the way. #2 The trading markets are small and poorly developed and do a poor job serving microcaps and small caps (true elsewhere to a degree). #3 Canadian investors are too risk adverse. I found an article on this that I should have posted, I'll see if I can repost it. Canada needs a raider in this sector, a Boone Pickens type to wake people up. $365 POG should create some highly profitable shareholder friendly projects, mines and companies. I see NO signs that is happening. #4 Most junior managements are oblivious and/or indifferent (including some with good assets, witness MOY and BGI) about creating shareholder value. A lot of them are going to "junior heaven" in due course. They aren't doing even close to what it takes to get loyal shareholders. And a lot of it is stupid stuff. #5 psychological barrier: no more than that, I'd say American markets trade better, have lower commissions, have some regulatory protection.

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