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Gold/Mining/Energy : T.ITE: iTech Capital (TSE) -- Ignore unavailable to you. Want to Upgrade?

To: keith massey who wrote (2890)	12/5/1999 11:42:00 PM
From: SwampDogg	Respond to of 5053

Great post and I agree...each situation is different. I have done my DD on the ones that I am in and I am very comfortable.

To: keith massey who wrote (2890)	12/6/1999 12:14:00 AM
From: Claude Cormier	Read Replies (1) \| Respond to of 5053

Keith, Keep in mind that book value and NAV are two different think. The former often includes an asset that is called "Mineral Properties". On many occasion, this is worth very little while still being subtantioal in dollar terms. Also, I agree with you that a stock selling below cash value (or net asset value) is not nescessarily a good buy. The examples you provided are good ones. But when such a stock as a non-cash asset (mineral or else) that can be develop and has yet to be recognized in the NAV, you stand to make a killing if you average down on this stock.