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

To: Gord Bolton who wrote (2030)	2/28/2002 9:55:18 AM
From: russwinter	Read Replies (1) \| Respond to of 39344

<PDG is not motivated and has MNP cornered.> It's hard for me to think like PDG, so I'm not sure what their catalyst is. Of course there may not be a PDG in six months, so it's going to depend on who absorbs them. But here's some background on Porgera. placerdome.com The bottom line is that they are out of high grade, costs are rising, and exploration around their property has been spotty. They claim to have a reserve to the end of the decade, but I wonder. I'd bet it's pretty marginal. They have an expensive plant already in place, so to me developing the larger district makes a lot of sense. They may have MNP cornered today, but the tables could quickly turn. PDG (or more likely their successor) should cut a decent win-win deal now, before the cards get flipped all over the floor. In the meantime MNP sits with a mere one and a half million dollar enterprise value, and looks like a free play.