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Gold/Mining/Energy : Pacific Rim Mining V.PFG -- Ignore unavailable to you. Want to Upgrade?

To: Phil Jones who wrote (13971)	10/24/2000 1:55:29 PM
From: Richnorth	Read Replies (3) \| Respond to of 14627

No, not yet. Not by a long shot by my estimation! Don't forget that a lot of short-selling occurred a short time back and now at year end we are seeing a lot of tax- loss selling. One guy from Greenline this morning dumped 10,000 shares at 31 cts. Was it tax-loss selling or a crazy attempt to make the stock go lower so that his short-selling done earlier would succeed? Who knows? FWIW, there are speculations that once Clinton is out, gold will likely have better chances of rising. Why and how, I don't know. Nor do the speculators care to explain. Frankly, I don't believe that PFG's shareprice would tend to a limiting value of zero. Too bad a number of guys did not get out when PFG was hovering between $4 and $5 for quite a while. Maybe those guys had bought the stock at higher prices and were waiting for PFG to exceed their buy prices. Alas! things didn't go their way.

To: Phil Jones who wrote (13971)	10/24/2000 9:40:08 PM
From: Richnorth	Respond to of 14627

An excerpt from a GATA report:- John van Eck has served his Weekly Gold Market Update at The Kiki Table. "The prices of gold mining shares, contrary to the price of gold, have made unexpected sharp declines of approximately 20% since their September highs to new all time lows. In our opinion, this must be the final "washout" or "capitulation" stage of their bear market, which began in 1980. They are extraordinary cheap. Their current prices reflect a theoretical gold price of approximately $ 250. an ounce, a discount of about 8% from market. They almost always have sold at large premiums to the gold price. Perhaps the market has been spooked by the unexpected announcement of several mine closures."