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Gold/Mining/Energy : BALACLAVA MINING (BIL.V)
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To: Tom Harper who wrote (79)8/19/1998 5:27:00 PM
From: Pete Mimmack  Read Replies (1) of 139
 
Tom, thanks for the word of caution, as it is certainly believable under current market conditions. But can you name a few so I don't have to strain my fingers searching the net for details?

Part of why Schaefer is so excited about BIL is that the initial discoveries at El Corazon are in ridges that will be extremely easy to mine - just push them downhill to your loaders or conveyors. Can't get much cheaper. Are any of the deposits you mention mineable at $100/oz? If not, that would be an argument for BIL being valued higher (no one has said their costs will be $100, I'm just using that as the low end of the spectrum).

Another part of his excitement is the expectation that POG will rebound in the next 6-12 months, ending the big, bad bear, and thus returning all gold stocks to more normal valuations.

Pete
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