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Gold/Mining/Energy : William Resources - WIM-TSE
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To: Lalit Jain who wrote (949)2/22/1998 7:27:00 AM
From: David Luton  Read Replies (1) of 1326
 
'You takes the goods with the bads and don't sweats the small
stuff' was some good advice a friend of mine from the rock
once gave me.

Unlike most people on this thread I had the fortune to
buy in December and sell in January (for a reasonable
profit) as part of a general switch from gold to silver.
The only exception was a nice conservative Quebec company
Richmont (RIC) that is making money at these prices.

We have to face the fact that gold prices (and even silver
with Mr. Buffets help) are not going to levels we all want
as fast as we hoped. Thus we have to hunker down for
a while until the central bankers learn a basic rule of
economics that is if you dump something on a market you
will lower the price.

In this case we are not dealing with speculation in the
Borneo jungle. We have a company with producing properties
including the one in Brazil that even Brad admits was
disappointing in 1997. The market believes that WIM
is overextended, thus the value on the stock.

The key is can they turnaround the company in time for
a nice rebound in the price. I have silver stocks
with weak balance sheets as well (Avino (ASM-V) but the
price fundamentals are much different and they will
recover quickly at today's silver prices or even lower.
(Avino is an interesting silver gold hedge).

My logic with William is if anyone can turn it around
it is a company with a mining consulting division.
The question is can they do it in time.

I would appreciate yours and the more knowledgeable
observations of other intelligent human beings on
this thread.

My question is should I reinvest?

Regards

Dave.
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