PHILEX GOLD INC (PGI) - TSE.... Trading at under 30% book Message Board

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Gold/Mining/Energy : PHILEX GOLD INC (PGI) - TSE.... Trading at under 30% book

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To: Michael M. Cubrilo who wrote ()	2/9/1998 9:36:00 PM
From: Pierre J. LeBel	Read Replies (2) of 86

Hi Michael, Where do you see PGI trading at 30% of book value? From what I can determine, shareholders equity at Sept 30/97 was around $ 114 million and they have indicated in a recent press release that they would take a very substantial write down of $ 15 million as of Dec 31/97. How does the current market price of $ 1.15 or so translate into 30% of book value with over 40 million shares outstanding? It is also my understanding that they had in fact an operating loss in the last reported quarter and that a profit of 0.0014 share (1/7 cent) was reported only because of the 30% drop in the value of the peso. There is no P/E ratio of 7 if there are no earnings! Do you have any forecast from the company indicating a profit for 1998 based on the current price of US $ 300.00 for gold? Any further information would be appreciated. Good Luck and have a very nice day. Pierre

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