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

To: TheBusDriver who wrote (2201)	3/7/2002 12:36:52 PM
From: The Vet	Read Replies (2) \| Respond to of 39344

<Know of any mid-tiers or jr. with large deposits?> Try Gold Reserve (GLDR) - Do you classify this as a large deposit? 206.96.186.251

To: TheBusDriver who wrote (2201)	3/7/2002 1:23:39 PM
From: Elizabeth Andrews	Read Replies (2) \| Respond to of 39344

There's lot's of large deposits that have average grades below 2 grams but they are not economic as stand alone operations until $350 gold or higher. And then the acquisition cost per ounce may only be $20 per ounce or so. So, a two million ounce deposit that grades 2 grams, may only fetch $40 to 50 million. Figure that into the capitalization of the juniors and I think you will find they are all overpriced and it's time to short them which is now going to be my focus. The value for the majors is in buying other majors. PDG is a sitting duck in my view. They have shed all their marginal properties just at the wrong time! GLG will also be a mid tier target at some point.

To: TheBusDriver who wrote (2201)	3/7/2002 1:26:43 PM
From: Claude Cormier	Read Replies (1) \| Respond to of 39344

<Know of any mid-tiers or jr. with large deposits? > Gabriel Resources is the last one on the block I think. This is why I believe that the majors will buy other majors. A repeat of what NEM did, until there are 3-4 majors max.

To: TheBusDriver who wrote (2201)	3/7/2002 1:36:56 PM
From: russwinter	Read Replies (2) \| Respond to of 39344

<What majors want and what they can get just might be two different things.> Bingo: exactly my "tooth fairy" analogy. They will have to go after unfinished projects and just get whatever they can as cheaply as possible and if need be finish the job themselves (juniors can't anymore). The reserve replacement "problem" is just going to get worse and worse for the producers. The GLG's and mid tiers are too expensive to buy, as the stock market has over rewarded them. The action will still be the juniors and there is now one less to contend with <g>. I'd use the FGX proceeds to just patiently start stinky bidding the good names off this little "gift" (thank you, Jesus!!) the lean crowd is giving us on the latest POG/POS fainting spell. I've one area play I think will get hot: Ghana, and two absolute gifts: Moydow and Birim. AU will start making a move there and I wouldn't be surprised to see others. BGI needs to be bought by ASL, Golden Star, AU or even NEM (more likely MOY) or ABX. Reread a Van Doorn report and he says about BGI, "Birim has the best exploration program in Ghana. If a major wanted to establish a program there, it would have to spend in excess of US$5 million before the first drill hole.". BGI has the lucrative Mampon royalty, Dunkwa, Akrokeri, and Bui and has a give away US$4 market cap. It probably makes no sense for them to continue alone any more. Peter Bradford (GSC): telephone: (303) 830-9000 are you listening? Stock swap time a la GLG!! MOY's is less than US$7 m and they have two million cash.