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Gold/Mining/Energy : Francisco Gold - FGX.V -- Ignore unavailable to you. Want to Upgrade?

To: Nexus who wrote (762)	5/3/2000 11:33:00 PM
From: russwinter	Read Replies (1) \| Respond to of 1907

Nexus, FGX HAS FOUND 3 million low cost ounces. PFG STILL HAS TO FIND the ounces. Despite whatever potential Pacific Rim may have, that is a critical difference between the two companies. FGX is pretty much a known quantity, PFG is a decent speculation. Certainly if PFG found over a couple million ounces that were very low cost, the US$70 million market could be justified. Perhaps they will find it and more, but right now they don't have it, so you're still buying blue sky. I prefer the known quantity.

To: Nexus who wrote (762)	5/4/2000 12:38:00 AM
From: Claude Cormier	Respond to of 1907

<<Considering you have been calling PFG overvalued since under $2, and that you have put in doubt their methods of increasing shareholder value, I seriously doubt that you have been trading it. I don't buy that. >> Who said I've done it since $2. The $4-$5.35 range has been good enough for me. Only fools do not change their minds. But it is your right to think whatever you want. <<PFG/Luicho at 6M oz would command a high buyout offer. We already know that majors have been taking serious equity positions in the company and that one of them will probably finance the company (Bob Bishop said so in his report, not fly by night promotion).>> Bishop can say what he want. he doesn't know. It may be true, but this is only speculation. As for the possibility of 6M ounces, I agree that it is for real. But until you know all the specifics, there is no way to tell if majors will be interested in buying it. <<Can you say the same for Marlin with it's 1K daily trading volume?>> No doubt about that. No seniors have purchased shares in FGX. But already 3 seniors have big eyeballs on Marlin even before the deal is close. The reason is simple, some of the specifics (garde and infrastructure) are simply exceptional. <<.It's much more complicated than that. >> I sure know this. Have been in this market for years. Remember, I totally dedicated to the mining sector. << It's all about what somebody is ready to pay for something>> We certainly agree on that. But I would add that what is important is to evaluate that "something" on a per share basis. Have you done it for each of the 15M shares of FGX. Have you carefully read the details on Marlin, El Sauzal and all other properties owned by FGX. << I think there is a place for the two of them in the resource section of a portfolio. >> I can agree with that. But I disagree on which one has the higher probability of greater rewards. May be I will change my mind after the first drill holes, but for now I am going with grades and infrastructure. <<You can't just invest in resource 'value' plays that you talk about or you are left with a 'value portfolio'.>> Of course, and I have always room for a few speculations. <<It must have been very painfull over the last few years to buy something that seemed like a value play at the time only to see it cut in half and then cut in half again and so on and so on...>> I started with FGX in the last 6 months with more emphasis recently, so the recent downtrend has not been too bad. But there has been other winners in the meantime.

To: Nexus who wrote (762)	5/4/2000 1:23:00 AM
From: skynight	Respond to of 1907

Hi Nexus: Don't think we need to get into a fight here. Claude seems to feel at this time FGX is the better buy as compared to PFG. This is his analysis and he may well turn out to be right, as he seems to be very knowledgeable about the exploration companies. I don't feel he is down grading PFG but simply stating that in his opinion FGX has proven up more than PFG at this point. He has not said that PFG is a rank speculation but in his opinion he feels that FGX may be a safer bet, but PFG is also a very good one. I am very happy with my position in PFG but don't mind adding to my position in FGX. They both look like real winners at this time. Don't forget that CMS is a board member with FGX and I don't feel she would be associated with a company that is not in line for some major moves upward. Bad for the reputation. Maybe we can make some money in both of these companies. sky