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Gold/Mining/Energy : A "A" list of JR gold mining companies
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To: Claude Cormier who wrote (106)10/5/1998 1:48:00 AM
From: paul ross  Read Replies (1) of 169
 
Hi Claude-

Any thoughts on MAE? Has $94 M cash,minimal long term debt, owns 54% of NNO, and up until Aug had
90k ounces hedged at $400+ (closed out most of it
for a $10 M profit). NNO has some interesting properties in Argentina, a jv with BHP, and in
Cuba, a producing mine with 5000 ounces produced
thru June of this year at a cash cost of 218
(projected at 260 to 270 in the future).

MAE's Con mine has a high cost of
production of around $340/ounce, with production at over 23000 ounces for the first 6 mos. of 98. However, it is 23% held by institutions, still under a $1.25 US, and with 56 M shares had a high of $7.68 US in 1996.
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