(way too long a post, especially after yours
was so succinct, apologies, I guess I get all
my chattiness out on SI...)
<this is IMO a good 401k stock. Buy and forget.>
agreed--market makers have already got too much
from me as I "adjusted" my portfolio. Whenever I
do something stupid like that (like the other day
when I sold a little of most of my holdings to get
some more cash) I soon remember that MAENF is
already like the cash portion of my account, only
better. Unless of course gold stays at these
levels beyond 1999--when the hedging runs out.
MAE says they are hedged well into 1999, hopefully
that will get them through the rough patch--and maybe
all the way to the failure of the Euro in 2000.
Fron the president's letter, tenth paragraph:
"As a result of the cost control measure taken at
the Con Mine, the Company's strong hedge program
of 117,000 ounces of gold at US$428 per ounce, and
its substantial cash position, Miramar is not only
set to weather the current storm in resource equities
but is well placed to take advantage of opportunities
as they arise. Depressed equity prices provide Miramar
with the opportunity to acquire production and/or development
assets at substantially reduced prices, while still being
able to support the advancement of Northern Orion's valuable
projects"
Though I don't really have many shares, it will
be fun to go the meeting, wife would like to have
a couple days in Vancouver, and for us it is not
much of a drive.
Anybody on the thread know if the strike shut
down Con Mine--I guess that saves some money,
too bad for workers tho. |
