MIRAMAR MINING (MNG) Message Board

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Gold/Mining/Energy : MIRAMAR MINING (MNG)

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To: Bucky Katt who wrote (131)	10/20/1997 11:19:00 PM
From: Bear	Read Replies (1) of 457

The junior mining stocks are in what might be their worst bear market of all time. Extraordinory patience is needed to get through it. It eventually will end, though I have no idea when. The are plenty of other people in the same boat, and we have all seen our stocks tumble. This may not be the greatest way to invest, but I'm not going to let impatience force me out near the bottom. Some portfolio rearranging might be in order--exchanging dogs for stocks with good prospects and beaten-down prices. As far as Miramar is concerned, I still think its prospects are good. It's selling gold at a hedge price, and the main difficulties at the Con Mine should be over (albeit with a reduction in output due to the low gold price). With Agua Rica expanding, NNO should get a decent price for its 30% share when it tries to sell it in the future, unless copper and gold continue to decline. The big questions now are will gold breach its previous low, and has copper bottomed. As you know, investing in junior mining stocks is very risky. But as Harry Truman said, "If you can't take the heat, get out of the kitchen." Best of luck to us. We could use some. Bear

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