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Gold/Mining/Energy : Aquiline Resources

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To: crustyoldprospector who wrote (129)	7/4/2003 12:01:20 AM
From: Claude Cormier	Read Replies (1) of 276

I didn't say I don't like AGD. But they are different beast. AGD has 15 millions in short term assets and $5,5 millions of short term liabilities. It also has $14 millions of long term debt. They have indeed a bit more than twice the number of ounces AQI has. But keep in mind that the hard rock stuff is refractory. if they don't find suitable processing method this could shop as much as 35-40% of the M&I resource. They have 44 millions shares outstanding and 49 millions fully diluted (not 18M). That is more than twice what AQI has. On that basis and given current stock prices, AGD appears more expensive. I have not studied if the company has other assets.

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