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Gold/Mining/Energy : United Keno Hill, UKH, Toronto**** Opportunity Knocks!
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To: Claude Cormier who wrote (632)12/4/1997 9:28:00 PM
From: Harry K  Read Replies (1) of 1348
 
News is: It appears the Yukon Energy folks have decided not to shut the power off to Keno's minesites - as it is required to keep their sump pumps and mine effluent treatment devices operating. Since NDU coughed up $300k of the $372k owed the Energy Dept., things have calmed down. At current price of $0.47, Keno is in plenty of company - more senior silver miners like ASM, SSO and even PAA are quite soft in this current market. The Gold miners are getting whacked MUCH worse, and the base metals are dropping, and so are the miners digging up the stuff. Not a happy time for the metals, but their time will come.

Many of these are being sold off as tax losses against gains made in the other sectors - but this will stop on Dec. 22nd (three market days before Christmas, I believe). Keno has traditionally loitered down in this level when there was no sign of anything happening soon. I mean, who would want to open their mine when mines are scaling down or closing all over the place? Look at Barrick (ABX), Placer Dome (PDG), Homestake, Franco-Nevada, Kinross, TVX Gold, Royal Oak - they're down to half their share price early this year! We have to wait until the "herd begins to turn!" This years losers - next years' winners!(?)

Any comments?

Harry K.
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