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Technology Stocks : Xenolix Technologies (XTCI) 'Ecstasy'(Formerly MGAU)
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To: Claude Cormier who wrote (3462)4/22/1999 10:28:00 AM
From: Richard Mazzarella  Read Replies (1) of 5143
 
Claude, IMO this little company has been pretty successful so far with their model. No debt, self funded, not bad in an uncertain metal resource world. After Bre-x, DELGF, and especially the politics and problems with IPM, funding for a drill program is not that easy IMO. If they get checks that create profit (profit = sales - costs), they can leverage increased production. At some time this company could be evaluated just based on earnings, not reserves. That is stock valuation based on P/E or cash flow. That would be no different than investing in other companies that create products, they can make money or they can't. I know this isn't your concept of a mining company, but it's a model that has possibilities. I think we shall soon see Maxam adopting an equivalent model.
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