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

To: russwinter who wrote (1339)	6/10/2001 12:24:36 PM
From: Gofer	Respond to of 4051

Russ, can you or anyone here help me out. Have you ever looked into Globex Mining (GMX), a thinly traded Quebec based exploration company. I don't have the knowledge to evaluate exploration companies. I've just begun investing in this sector since January and am currently long FN, DPM.A, and G. I've also traded in and out of WRM and RIC. Any help is appreciated, Gofer

To: russwinter who wrote (1339)	6/10/2001 12:48:17 PM
From: goldsheet	Respond to of 4051

<<As at 31 March 2001 Normandy and its subsidiary companies had a total of 7.46 million ounces of gold sold forward through to the year 2010. In addition some 571,000 ounces were exposed via call options sold>> In an 8 May 2001 presentation Normandy said they had 10.3moz hedged. Here's where I get concerned about Normandy (and most Australians), 10.3 is about 50% of their reserves (21.8) and about 20% of their resources. This might make them twice as likely to "implode" than Barrick, or more given the additional details of their short lease rates you provided.