Wheaton River Minerals (WRM Toronto) Message Board

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Gold/Mining/Energy : Wheaton River Minerals (WRM Toronto)

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To: Steve Johnston who wrote (103)	9/21/1997 10:49:00 AM
From: Jimsy	of 350

WRM is shaping up. They have better gold recoveries than expected, thus should get higher cash than expected this year and have already announced less of a drawdown on their loan. They have sold forward at higher gold prices. Actually if they sell all of their gold at the sell forward prices while the actual price is down here at $321 or so, they are going to look pretty clever. If the price of gold trends back up (and I hope this happens) so that future sales carry on at the sold forward price to keep the cash coming in, plus a second leach pad next year, plus exploration at Golden Bear and in Costa Rica, this could be a nice comeback. I'm also holding some of this stock, but am still impressed with the management ability, progress to date and tenacity to make this company successful in spite of some very bad luck. The price of gold looks like it has bottomed out. Placer, Barrick, Viceroy, Royal Oak are moving up, and the XAU has shown a reversal to up. Lets keep our fingers crossed that the trend continues. I think we could have Wheaton back at about $0.80 in the near future, and with some further progress maybe on to a $1.

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