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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: STLMD who wrote (4416)	9/3/1999 9:25:00 AM
From: Bearcatbob	Respond to of 15703

Steve, I have read the RB thread - yzad or whatever is a real knucklehead - using words restricted to public consumption. My purpose of the WML chart is in response to S&P - it is strange for me that one of the JV's jumps so much while the others do not. This is and will continue to be a fun ride. Bob PS: Make sure your next prescription is not 500 shares of KOB and call you in the morning!

To: STLMD who wrote (4416)	9/3/1999 11:11:00 AM
From: Check	Read Replies (1) \| Respond to of 15703

Hi Stephen, I agree with most of your comments but.... <<I don't believe you will get any argument from anyone here on the thread that all players except perhaps BKP and POU have a huge but risky upside.... that upside will be similar in nature and....>> ...that's painting them with a pretty broad brush. I agree that all of the juniors have a huge upside, but I am not sure what you mean by "similar in nature". I find the upside potentials vary tremendously, up to several hundred 100% in many cases, with the size of the reservoir and the company's % ownership, fully diluted shares out, their present price and present value being the main variables. In the stock market I tend to associate "risky upside" with the downside and here too I find huge qualitative differences among the juniors. For example, I think you'd agree that all other things being equal, a company trading at 7 times cashflow is less risky than a company trading at 14 X CF or one with no CF. In a perfect world, or according to the Efficient Market Theory, all these and a host of other factors would be gathered in by the market participants and our little stock's prices would fairly reflect their relative valuation and perfectly correlate their risk-reward ratio. And we would have nothing left to do other than debate the merits of being brave vs. being a chicken. Got to run - things to do. HAVE A GOOD DAY.