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: loantech	1/22/2008 9:26:24 PM
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Western Goldfields Western Goldfields had a great year on all levels: the stock was up 35.6% during 2007 (even after being clubbed down to $1.73 in the August panic, it still closed the year at $3.81); management met all of their commitments regarding going into production (and in fact made the almost unheard of accomplishment of going into production three months earlier than their initial commitment); and even the hoped-for revaluation from a pre-production NAV multiple to a producer’s NAV multiple moved in the right direction during the year. Having said that, I believe the revaluation still has quite a way to go, and with gold above $800, that revaluation should take the stock into the $5-$7 range during 2008, assuming gold stays above $750. With those bright prospects, Western Goldfields too is expected to continue to be a core position, as it has been since Randall Oliphant (the former CEO of Barrick) joined the company as Executive Chairman in December 2005. northernriversfunds.com

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