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Gold/Mining/Energy : Phoenix Gold Resources (V.PHO)
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To: Richard Mazzarella who wrote (171)2/15/1998 9:28:00 AM
From: David Luton  Read Replies (1) of 285
 
Richard:

Thanks for the tip. I had previously examined Ron's
post and it was that which prompted my inquiry.

Biggest concern I have is lack of information about
reserves. Understand they have something, question
is how much.

Regarding your comments on Stillwater check their
10 K report & look at the average revenue they have
received compared to average market price. They
apparently guessed the hedging market wrong and
as a result have been / are receiving about $100/ounce
less then the market price. (This maybe reason
their Chief Financial Officer left last fall).

Hedge comes off later this year. I am cautious
about this sector and senior silvers with reserves
in Russia because of the uncertain Russian situation.
It seems there is a tendacy to change the rules once
a good thing is found.

Regards:

Dave
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