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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: Gator II who wrote (324)1/8/1999 11:35:00 AM
From: William Peavey  Read Replies (2) of 48092
 
Gator,

I watched it. He was positive, indicating that Homestake would be able to keep mining gold despite the current weakness in the POG. There were good shots of his office, which is strewn with mining memorabilia: an assayer's balance scale, a big chunk of ore on a coffee table, some gold coins framed on velvet perhaps, and other artifacts that I was pleased to recognize but do not remember.

I believe he said that they had plenty of cash and were prepared for industry consolidation/acquisitions.

There was excellent video footage of monster dump trucks and roller mills and crushing and conveyor equipment, that was running while the interviewer noted that Homestake had been in business from the time of the Civil War and operated on three continents.

The upshot, from my vantage point was that this was a positive piece on a battered industry that used to be part of most responsible prudent portfolios, had fallen way out of favor but was probably on the way back. One or two money managers were taped with positive soundbites. Homestake was selected because it is a good example of the industry. In there through thick and thin.

In closing I might add, that I remember pundits in the past commenting that Homestake was one of the few stocks that did well during the deflation of the Great Depression. We may get another chance.

This review was superficial, and for that I apologize.

Bill Peavey
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