Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: koan	5/2/2006 7:57:02 PM
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In 1987 I made most of my money off Pegasus wts. They were exercisable at $14.57 - 5 for 1. I bought most at .30 when the stock was between $6 and $12, and sold the wts up to $5. the stock went to $35. One of their main projects was the Zortman Landusky heap leach operation in Neveda?. They were profitably mining ore at .01 oz per ton!! D.L. Degerstrom blasted the rock and then took it right to the leach pad. They blasted the ore so it went in one direction and the rock in another. They also blasted it so that they did not need to cursh it. K has been looking real good the last few weeks as a gold proxy i.e. it is moving with gold. They have many projects (11?) including the Fort Knox near Fairbanks; but one of their largest is 100's of millions of tons of .43 grams open pit in Brazil which I believe they are heap leaching pretty much the same way as Pegasus was and are looking at major expansion. Now they were doing financials based on $450 gold! All of the juniors are WAY behind the metals prices. K wts are only 3 for 1 with a strike of $15. 4.4 to 1 leveage and only .80 out of the money and good momentum, I am adding this one to my portfolio pretty strongly. These wts are way undervaled given the strength of gold. IN MY OPINION! For $3.45 I can leverage a $14.20 stock until 12/05/07. And remember low grade ores at high prices increases the leverage substantially; and that leverage increases as prices increase. Just my opinion and take on things and what I am doing. Do your own due diligence. This post is just meant for information for my friends. Period. One cannot pump wts! I repeat do your own due diligencre there may be important things I am missing here! Cheers Chuck

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