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Gold/Mining/Energy : Rumour Thread
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To: David R. Schaller who wrote (167)2/16/1998 4:07:00 AM
From: Douglas Freeman  Read Replies (1) of 223
 
Here's one for you. Silver Standard Resources (SSRIF). Has 163 mil oz of reserves valued at 40 cents/oz with the stock at 4 1/2. Here's the rumor part - George Soros' Apex has a big project right next to SSRIF in Bolivia. He is looking to expand, & just came public (SIL) in November & has the cash to do it. SSRIF the logical choice - awareness on it almost 0. Sound pie-in-the-sky? Fidelity just announced they've acquired 10.4% of SS, plus SS issued a bunch of options to employees, immediately exercisable at current prices. Lining their pockets? Yup, but mine too. A good deal regardless - reserves should be valued at at least $1/oz, and that's an $11 stock. Fidelity will initiate coverage soon, and with pure plays on silver so rare, you guess your own upside... ID
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