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

To: gold$10k who wrote (1921)	8/24/2001 10:53:22 AM
From: russwinter	Respond to of 4051

Here's a little TVX postscript on the balance sheet progress so far this quarter. Company communicated back that a share buyout will be discussed and considered at their Sept board meeting. As per my usual modus operandi of, "Show me the beef", I'll wait for it, before "averaging down". As of June 30, the TVX had cash and short-term investments of ~$56 M (~$50 M to TVX) and export prepayment contracts are ~$69 M ($35 M to TVX) for a total cash and investment position of ~$125 M (TVX's share ~$85 M). Current and long-term debt at June 30, 2001 was ~$105 M (TVX's share ~$66M). Since the end of the second quarter, ~$30 M has been removed from the total debt (all TVX's share); ~$13 M due to the conversion of the notes and ~$17 M from the hedge restructuring. Net cash of ~$0.8 M was spent to reduce the debt load. TVX operationally is cash flow positive (US 4.8 in second quarter) so no bleeding going on. Cash costs are about $180, right smack at the median of worldwide gold production. Not a "great" company, but certainly not a "dog" either. If you were go go back over my mine life and reserve work, TVX is one the best out there. And now a put buyer, not a raw hedger. 46 cents? Don't think so. Home run if Hellas surprises. May be a buyout target at a premium from here.

To: gold$10k who wrote (1921)	8/25/2001 9:27:41 PM
From: russwinter	Read Replies (2) \| Respond to of 4051

Very good report on Minefinders available on the company web site written by Global Insight Report (Jim Steel). minefinders.com In fact for serious junior investors out there, this publication is worth an additional look. There are three or four free look issues also available from the site. I was impressed enough to subscribe and I'm quite impressed for two principal reasons: 1. He is playing many of my same stocks and naturally I like people who largely agree with me or can give sound reasons if they don't (gold sucks is not it) <g>. 2. There is some very valuable learning curve material there, often presented in a side bar manner. An example (make sure you go back through all the archives, although you will notice writing and presentation styles improve over time) is a piece on how "true width" differs from "drilled width", and some sidebars on various indicator rocks. I don't know about the rest of you, but I wasn't born a geologist, educated as one, nor do I have an interest in becoming one at my age. I just want somebody who is, to point out what's relevant. Finally, there is a forum in the works and I plan to spend time there. A good and frequent update setup is employed. There, everybody knows I don't tout (or even compliment) people easily, and I have rarely used this forum in that manner. I'm going to make an exception here though. Subscribe, it's inexpensive and will help. mininginsights.com