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

To: jpthoma1 who wrote (519)	11/6/2001 5:35:02 PM
From: tyc:>	Respond to of 39344

>>NOV: The odds are now lower. Well, the odds of finding an orebody to compare with the mine are lower.... but what are the odds of the "smaller" anomalies yielding ore ? I note that Louvicourt is "making a profit" even with metal prices as low as they are. "Breaking even" implies recovering the Book Value and the book value equals ~$2.20 per share. Moreover, without further capital expenditures, cash flow becomes FREE cash flow and Cash flow for the quarter (before changes in WC) covered regular dividends for six months... this even at current metal prices. Working Capital is about $62M compared to market capitalisation ~$68M. You can have your VIA (GG). This is a win/win situation. (pardon my enthusiasm !)