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

To: russwinter who wrote (1069)	1/5/2002 5:41:30 PM
From: Claude Cormier	Read Replies (2) \| Respond to of 39344

Russ, The way I see it, these juniors believe that there is no need to rush as the deposits will be there next year. Why rush to develop a deposit and reach production when gold prices are at 280. They are probably planning with the belief that Lassonde is right when he calls for $350 within the next 3-4 years. So since they believe that $350 will not be there in 2002 or even 2003. They are taking their time. For MFL specifically, it may be not too expensive to drill 10, 20 or more holes at El Malacate with the hope of making another large discovery. If they do so, the stock prices will rise significantly allowing them to finance more agressively while limiting dilution. I don't like this approach, but if gold is not moving before 2003-or 2004, it is the best way to go. Russ, I still think we will see a spike above $300 this year, but I am not convinced that the bull market has started. The US dollar is still too strong. Although there is a lot of monetary inflation, consumer inflation is still ahead. Gold production has not yet drop significantly. In other words, we are slowly changing to an environment good for gold. But how long will it takes, 1, 2 or 3 years. Knowing that Echo and Franco are behind Minefinders, I can understand why there are "slow as molasses" as you say. The good days are ahead and I am not worried. That is why I am holding long and not trading. That is why my PF is concentrated in juniors that have lots of cash or generating cash and tuning projects that are economic now.

To: russwinter who wrote (1069)	1/5/2002 7:07:10 PM
From: loantech	Respond to of 39344

Russ, A JV sounds good. I am very conservative with credit and it is my belief that in most cases incl. MFL don't borrow money and don't spend money if an incremental gain is not there. they have a resource, incubate it or JV but don't expire more capital. Does make sense to wait for higher prices or go into a sleeper mode unless payback is good like Claude says bay is.

To: russwinter who wrote (1069)	1/6/2002 11:42:57 PM
From: Dan P	Respond to of 39344

Russ and others: I just reviewed some of the base metal stocks (e.g. Inco, Noranda, Aur, and a few others) and it is interesting that they have made a substantial move up since Oct 2001. In fact, AUR is at or near its 52 week high. Also, the CDNX mining index ($CDNXM) has been in a stealth bull market for the past year. All this is interesting in the context of those who are talking about deflation, and serious problems ahead for the world economies ahead. Mining stocks did in fact do very well last year, and of the Fidelity select funds, select GOLD was the top performer for 2001. To me this suggests that 2002 will be even better for the mining sector. Regards and happy new year to all. Dan

To: russwinter who wrote (1069)	1/7/2002 12:18:33 PM
From: baystock	Read Replies (2) \| Respond to of 39344

This may explain today's strength in MFL: <Jan. 7, 2002--The Wall Street Transcript has published an in-depth interview with Mark Bailey, President & CEO of Minefinders (OTCBB:MNEFF - news), in which he talks at length about the company's future. Bailey gives an overview of the company. ``Minefinders is a junior exploration company that, although not currently in production, is considered a highly successful precious metals exploration company by industry analysts and other companies. We have been actively exploring for gold and silver over the past six years, primarily in Mexico, and currently have developed a resource asset base, on two projects, totaling more than 2.7 million ounces of gold and 132 million ounces of silver. We're actively expanding these two deposits and adding new discoveries in Mexico and Nevada with a large portfolio of projects.'' Bailey explains, ``We're an exploration company. We're trying to develop Dolores and take it to the production stage. That's our main deposit in Mexico with more than 2.5 million ounces of gold and 130 million ounces of silver already defined. We are advancing the deposit to a production decision over the next 12-24 months, with the mine coming on-stream in, hopefully, a very favorable bull market for gold and silver.'' > twst.com