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Gold/Mining/Energy : JAB International (JABI)
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To: Martin Wormser who wrote (3840)7/21/1998 12:07:00 PM
From: DavidCG  Read Replies (1) of 4571
 
You're right... they are pretty unimpressive miners...

However, they are pretty impressive property claimholders.

Anyone with that much control of that much historical gold land has a company worth more than a paltry 5 million dollars.

Before the reverse split, I agree... the company's land claims were not worth $20 - $100 million dollars...not if they can't effectively mine it.

But $2 - $10 mil?... I think so.

Don't confuse the hatred most shareholders have with Jim/Sterling/Lionell with the actual book value of these claims, mining equipment, and infrastructure.

Some other savvy gold mining company or another large investor is going to look at this big package as a bargain.

Of course, who knows... maybe Jim will hit the motherlode? (lol)

But now you know why I'm buying down in the doldrums here.

I'm buying the assets... not necessarily the management.

-DavidCG

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