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

To: Claude Cormier who wrote (1796)	8/1/2001 10:47:28 AM
From: russwinter	Respond to of 4051

Claude, I think the 15 million debt is not out of line considering their asset base. They also have 8 million cash to service and offset. Most of their exploration work in Turkey is behind them, and they now are partnering with one of Turkey's largest companies. They've really made a series of good moves in the last year and here we are in the mid-20's. The other issue is that Goldfields owns 36% of their stock and has been totally indifferent. I was told they rarely even return phone calls. That could suggest that someone could get those shares, for controlling interest. When the scramble for new reserves and projects (Kisladag is 138 cash cost and large, fits the profile) begins in earnest, I see this one as ripe and a target. They also have half of San Bento, and there are much worse mines (had been about 180 c.c). I think they'd like to sell it and concentrate on the Turkey projects. Short term the bad energy news out of Brazil has hurt that. There are some uncertainties, but IMO ELD should be a core holding for serious players in the sector, especially at these prices.