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

To: Claude Cormier who wrote (2281)	3/8/2002 11:08:46 AM
From: Zardoz	Read Replies (3) \| Respond to of 39344

BAY project is "in the money" with a very meaningfull discount to NAV. The odds of achieving production, although not 100%, are very high. Odds you say, then it's gambling... Speculative venture on investors part. No better then a stock option. In fact a stock option is a better investment cause it can be based on earnings... or is it ok for junior miners not to have earnings, and bad for Internet stocks to have earnings and higher PE based on growth. You can't have it both ways. No earnings are a gamble... no money in, and money out only is BAD. You can quote $x.yz per share cash flow if you want, but it's all based on projections which you have no control over. IT SPECULATIVE...