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To: jim black who wrote (90451)	4/27/2001 12:24:02 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

S African Nationalization ? Jim; I think that's a small risk - allthough it's there. HGMCY's Black Empowerment agreement is what I think you'll see vs. Nationalization. But; N American producers may be more levered to a falling Dollar/POG movement. HGMCY is a supreme value & GOLD is as well - basically unhedged. DROOY is an "option" on a "substantial" move in the POG & should only be owned in a basket imo; not a major position... Imho; the best small cap by far is GLG; great balance sheet, profitable, savy management etc. I also like growth plays GG & AEM very, very much & GG is atop my accumulate on weakness list; allthough I hold much more NEM & HM. NEM is THE unhedged, mega- N American producer that is highly levered to a $300+ POG and KGC probably the N Amer small cap with the highest upside % move to $300+ gold may be a better risk vs reward play than DROOY here for high risk/ very high reward. Perhaps an ideal weighting would be: N. Amer - 75% with NEM HM AEM GG FN.to - making up about 75% of that 75% & GLG MDG RGLD KGC the balance S. African - 25% HGMCY & GOLD the obvious plays their; with some DROOY as an "option" play. Also; I plan to add the junior/small caps with trading profits going forward here - continually building a nice position. Presently I have more Silvers than Gold here; loooooooooaded with SIL & PAAS; caught a ton of SIL on that $7.30-7.45 pullback & kept buying PAAS sub $2.50; sitting on some nice gains in these two - SIL up near 20% for me here & it's "temporarially" my largest PM holding - I think it fills the gap back up to that $10-12 range pretty quickly and it will be a heck of a nice return from those sub $7 1/2 days.

To: jim black who wrote (90451)	4/27/2001 3:44:25 PM
From: energyplay	Respond to of 95453

South Africa also has a serious problem with drug resistant TB and AIDS Eventually, this could start to affect the production from the mines. Also, the ANC still leans towards Marxism. Additional increases in the crime rates AND/OR opportunities away from South Africa could prompt more imigration by highly skilled people out of South Africa. Something that could create opportunities would be - higher gold prices - opening up mines in Australia, Canada, and other places. I don't thing S.A. will fall apart - but there might be a "discount" on the stock prices of S.A. mines vs. North American.