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Gold/Mining/Energy : Agnico-Eagle Mines Ltd. - AGE (U.S. AEM) -- Ignore unavailable to you. Want to Upgrade?

To: Robert J Mullenbach who wrote (746)	2/25/2000 7:44:00 PM
From: Roebear	Read Replies (1) \| Respond to of 1612

Robert, That is great news indeed, doubling of reserves is nothing to be sneezed at. Just as important is the reduction in cash costs to 168 US dollars in 2000, 133 by 2001 and 115 by 2002! In fact I believe this news is so LARGE that the market may take a bit to digest it. I predict that it will wait until the first analyst upgrade to really move up on this news but will be even more happy if I am wrong! A negative factor is the high cash costs last quarter, but that is understandable as they are ending operations in some of the older near depleted shafts. AS FOR THE POG, this retrace in price does not bother me at this point, there is a chance it is a running of the stops in advance of another move up and a chance for shorts to cover. As a matter of fact, it fits nicely with golds chart and makes the right shoulder of an inverse head and shoulder. In short, actually I think the chart could set up to be very bullish for gold. For nearly three years we have had a steady down slope in the price of gold, now lately in a bit over 9 months we have had three nice little tentative baby bull runs up. The powers that be have struggled mightily, but evidently they are having increasing trouble keeping the lid on the golden bull pot! In any case, I haven't had time to run the figures but it looks like its no matter if gold is 270 or 370, AEM will be making good money soon and for quite awhile. I'll be shifting funds to allow my AEM shares to be long term shares. Finally, I'm WITH YOU Robert, VBG! (Now with Yogi, that makes three of us berserkers and to think this little secret appears to be all our own!) All the best, Roebear