International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Claude Cormier who wrote (27282)	11/17/1997 9:08:00 PM
From: Zeev Hed	Read Replies (1) of 35569

Claude, actually, we can take Hoare figures and plug back in the .03 to .04 oz/ton and come up with a max fair value. If the assumtpiton of >25 plus Pt justified a price of $15, what would let say 1/5 of that be worth? Furthermore, the expected profit margins on extracting .o4 oz/ton must be much lower than for .25, thus another factor of conservatism should come into the equation. ASccordingly, it seems right now that even the current price is somewhat fair to rich value according to Hoare, if they indeed where serious. WEith T.Hoare I am particularly worried, they come under the category "you fool me once ....". They were the one to judiciously use the rally in the stock last year (in anicipation of the 450 ton bulk smaple) to unload a lot of shares, I would not be surprised if they were trying to pull a Vinik here. Zeev

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