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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Elizabeth Andrews who wrote (277)	10/23/2001 9:38:18 AM
From: NPValue	Respond to of 39344

I do not deny that there were problems with those ventures. And the Voisey Bay discovery was luck. However, as I mentioned in my post, I think the investing environment is such that skepticism is prohibiting a great deal of roll the dice effort. Is the Monywa property and its current production real or not? Is Letpadaung real or not? Is Turquiose Hill real or not? Obviously everyone has to answer these questions for themselves. But one thing is for sure; there will not be very many institutional investors who will go running just because Friedland or anyone else announces that they supposedly have a world class discovery. In mining investment, you cannot afford not to be from Missouri.

To: Elizabeth Andrews who wrote (277)	10/23/2001 9:54:06 AM
From: russwinter	Read Replies (2) \| Respond to of 39344

<What about African Minerals, another disaster?> Keep an eye on their Bushveld PGM JV with ARQ. <promotional boondoggle > What people lose sight of is that exploration is high risk, and Friedland takes his cuts at it, so of course there are some duds. As for the bidding war Friedland got everybody into? Brilliantly executed in my book. It is also the job and function of a good capitalist to underwrite capital at favorable times. It's the job of astute investors to pass if it's too high. Can't blame Friedland for that. * I don't own IVN nor do I have any intention to. I just don't feel the Friedland story has been very balanced.