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Gold/Mining/Energy : ORXX - Orex Gold Mines Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Ga Bard who wrote (986)	8/28/1999 9:25:00 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 2392

GB, by the way, you can also try and ask yourself what would be a "fair value" of this stock if everything worked right and then use a "probability scale" that everything will work right. If they are no future surprises in the capitalization, the current valuation of ORXX is $2.5 MM. From what I read here, their reserves are not yet all in the "proven category", but typically, you should take the "proven" category, make some assumptions on extraction costs, and use a good discount rate (typically two to three times the prime) to discount to present value those reserves (I use a short cut 1/10 of the "goodies" in the ground as "current value"). Maybe at this stage of the game, the market might be valuing ORXX correctly. Zeev