Global Platinum & Gold (GPGI) Message Board

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Gold/Mining/Energy : Global Platinum & Gold (GPGI)

GPGI 24.85

-1.8%

Feb 10 3:59 PM EST

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To: Zeev Hed who wrote (1199)	11/15/1996 8:22:00 PM
From: JACK R. SMITH JR.	of 14226

Zeev: Good luck on your trip to Salt Lake. Another subject unrelated to GPGI. We discussed Freeport Mcmoran Copper and Gold Preferred stock in the past. You hold some FCX.B, or FCX.C, which are gold dominated. I also hold some FCX.D, which is silver dominated. Just thought that I would bring to your attention that the silver dominated is at bargain levels. Traded today at 18 1/4, is convertible to 4 ounces silver per share, and yields 4.54% at current divident of $.83. Bought some last week at 17 even. The stock was issued on 7/27/94. The first 20 quarter dividend will be 4.125% times the price of silver. Principal will be systematically returned beginning 8/1/99 over a 7 year period. The value of the shares will be reduced by 0.5 ounces of silver per year, and the proceeds paid to shareholders . The dividend formula would then be ruduced accordingly. Jack

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