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To: Enigma who wrote (84100)	4/2/2002 3:15:28 PM
From: Ahda	Respond to of 116779

Cash flow is the funding in the world but a limited performance for the cash that has gone in. Cash flow is the method many companies are valued on but after an IPO or a secondary there is going to be cash flowing everywhere. I think the same can be applied ot producers you can have all the cash you want but how that cash is used matters so i believe that PE is an important ratio when judging future performance.

To: Enigma who wrote (84100)	4/2/2002 3:20:58 PM
From: long-gone	Read Replies (3) \| Respond to of 116779

<<Of course cash flow is more significant than earnings with resource companies. >> Why? Cash flow is only a picture of yesterday, or at best today. Book value shows amount of resources available for future production. Guess the determining factor is that on which one invests past or future. AU Sales (ttm) $7.01 ABX Sales (ttm) $3.71 NEM Sales (ttm) $8.53 PDG Sales (ttm) $3.73 GOLD Sales (ttm) $1.68 Still looks like who ever is saying "market accords Barrick ths highest multiple of the majors" is talking TRASH!