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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (583)	2/10/2001 3:45:03 PM
From: goldsheet	Respond to of 4051

I think I would add Aurizon, Gabriel, Repadre, and Royal Gold to my list.

To: goldsheet who wrote (583)	2/10/2001 4:54:21 PM
From: russwinter	Read Replies (2) \| Respond to of 4051

I think FN has the once in a generation opportunity is step into the breach left by other failing producers to become a great mining company. I've wondered why they haven't made their move? I'm sure they are trying to put something together (perhaps Stillwater, Goldfields, and at some point Great Basin's Ivanhoe). Others? I've thought GLG might fit, so as to get that company's management acumen. I guess IMG is just too small cap (100 million, with 25 million working cap))to catch the radar screens of any institutions still in the sector? But then that's true of nearly everyone else as well. The others just started with bigger caps/floats so it takes a little longer for the big money to get out. I feel the smaller caps have been pretty much totally liquidated. When Yatela opens mid-year they will be kicking in about 40 million cash flow. Management owns 43%, so they may get weary and sell out. One would think at about three times current levels. Don't know if you've run the market cap on Metallica lately, but at 20 cents it is US 3 1/2 million. They have 2 1/2 million cash and no debt. For the remaining million you get about one million ounces with $129 cash cost. Good example of the made up prices I mentioned in the micro-cap golds. Every retail investor who bothers to read their account statement has sold their shares. Most everyone else in these micro-golds now days is probably in reality deceased or in a care home setting (and I may be there too at this pace). IMO they should just win-win merge with Glamis, and give shareholders a little three or four times premium and a more liquid situation. I've been lobbying both managements to do so. I think Gabriel should have been on my list. I haven't bought it yet though, as I'm waiting for someone to blow it out at even more absurd prices. The way POG is going it may not be long? That way, when the buyout comes I get the four bagger instead of three. Greedy I guess. At this point I see the final solution issue playing out in three scenarios: 1. "the dwindles" where we linger around at 260-265, might take until year end to gradually eliminate the marginal production. 2. "the washout" to 240, will be over quickly. At that point even the most die-hard hedgers and high cost producers realize the futility of selling gold below cost of production. They may all blink at the same time. 3. "the squeeze", sudden and dramatic, takes out the hedgers out and shoots them instantly and counterparties get left holding the bag. Of the three, I rate the third as the most likely, taking my clues from sentiment (death of gold statements, etc.)and indicators like COT. In all these scenarios a nice chunk of world production disappears.