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

To: Edmund Lee who wrote (737)	1/16/2000 10:48:00 AM
From: russwinter	Respond to of 905

Good analysis. The notes are no doubt a key variable. What are they trading at now (assume 50-60% of face or less)? If so perhaps they could buyback a third or half ($40 to $60 million outlay)over the next year or so. Then, since the Greek mine is an attractive low cost asset, they could be capitalized at a higher price, especially in relation to the current depressed share price. Therefore it may make sense to find a substantial partner that spends the money bringing a mine into production. Say a 50% share for the 250 million necessary to develop and another 50 million (maybe more) for TVX to clean up the rest of the notes and go on to future projects. Such an "middle" strategy should substantially mark up the shares.

To: Edmund Lee who wrote (737)	1/18/2000 3:14:00 PM
From: Alex	Respond to of 905

Thanks very much Ed. Your thoughts are very much appreciated. (eom)

To: Edmund Lee who wrote (737)	1/19/2000 11:44:00 AM
From: Alex	Read Replies (1) \| Respond to of 905

From the Normandy release today.......... <<How is the TVX Normandy Americas partnership progressing? Progress is most satisfactory. In the first six months, improvements have been completed at Brasilia (commissioning of the fifth ball mill, jigs and Knelson gravity concentrators under budget and ahead of schedule), at La Coipa (increased throughput with pre-crushing circuit) and an expansion approved at Crixas. In fact, each of the five mines achieved record annual production, and cash costs averaged a low US$133 per ounce in the December quarter. >> go2net.newsalert.com