Madsen Gold: Production in spring of 97! Message Board

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Gold/Mining/Energy : Madsen Gold: Production in spring of 97!

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To: hedgehog who wrote (24)	11/16/1997 8:39:00 AM
From: reg	Read Replies (1) of 28

May have to upgrade to a larger capacity hoist as it is restricting feed to the mill as they go deeper. Not a good time for gold stocks I'm afraid and the outlook is grim for producers. I don't see a lot of upside at this point given the current market. Tax loss selling could really hammer MGF as the bid is very weak. When the bid got taken out at 1.01 there were no other bids at all for a while. Pretty scary! At least if gold does drop to 285-290 they can get out of debt by closing out their hedging program. What happens after that depends on the gold market. I'm afraid gold is losing it's position as a store of value. Something fundamentally seems to have changed.

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