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Gold/Mining/Energy : Southwestern Gold -- Ignore unavailable to you. Want to Upgrade?

To: whisky who wrote (97)	7/10/1999 10:58:00 AM
From: Claude Cormier	Read Replies (1) \| Respond to of 585

Whisky, I think your are confusing value with potential. They are not the same. I never said GPJ didn't have big potential.. in fact I think it has (same with CNB). Their chinese properties could end up being gold mines. But this is unrealized value...it may never be real value. We don't know yet. A grass root property where no resource has been established cannot be considered as solid value where a stock price may find support. To my knowledge, GPJ has no properties with established resources. Hoaya is a great property that has large potential. But the real value has yet to be determined. There is no guarantee yet that there is an economic resource there. If I think SWG is undervalued, it is not because of Hoaya. It is because of the value of their assets. They have cash and at least two already confirmed resources that will be economic, in Accha and Poracota. Achha alone is worth $4+ per share. Maybe, and I hope, both SWG and GPJ will gain more real value thanks to Hoaya. Time will tell. In short, in my book, potential does not constitute real value simply because it may vanish real quick. This being said, I have nothing against the idea of speculating on potential... but it is differnt than investing in value. Claude P.S. I agree with you. SWG/GPJ/CNB are great group with excellent synergies.