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Gold/Mining/Energy : GLAMIS GOLD - GLG

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To: Peter Dierks who wrote (433)	2/11/2005 3:22:51 PM
From: Cage Rattler	Read Replies (1) of 459

It's hard to beat the 6.2x PE and so far it looks quite interesting. What’s the catch here? Below is something I pulled from my brokers material that essentially reiterates your posting, but something in the tone leaves me wondering if Xstrata mineral spectrum may be too wide and offset Uranium profits and if Australian restrictions may be more restrictive than we may assume. What is your take and what do you see as the down side here? LONDON (MarketWatch) -- Australia's Federal Treasurer Peter Costello said he has approved Xstrata's A$8.4 billion for WMC Resources , Xinhua Financial Network reported. Costello said that approval was based on a number of conditions which included Xstrata abiding by all Australian laws and regulations relating the mining and export of uranium. The conditions attached to the approval also require Xstrata to retain its headquarters of Xstrata Coal, Xstrata Copper and a planned new business group - Xstrata Nickel - in Australia while the majority of the assets of the respective businesses are located in Australia, the report said.

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