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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine)
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To: Elmer Flugum who wrote (1217)2/20/1999 9:45:00 PM
From: Stitch  Read Replies (1) of 2282
 
len;

Thank you. Simply one of the most cogent posts on the subject to be had on SI and other discussion threads I monitor.

<<These will be the companies that can survive the longest due to low debt service requirements, cash on hand, low cost basis on their assets, and minimal construction projects underway that could hiccup at any moment. (Hiccups in this business can cost dozens of millions of dollars in added expense and lost revenue.)>>

In the spirit of "old time religion I could only add a hearty AMEN". My one question in this sector is the apparently unanswerable. That is, of course, timing. I have been doing DD in a luxuriously slow fashion. That is because I agree with your observation that little is left to discount here IMHO. I also think a recovery is a bit off. Diamond warrants a very close look by anyone in this sector. I had drawn conclusions similar to yours but had not articulated it as well as you have.

Best,
Stitch
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