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

To: Claude Cormier who wrote (3159)	4/21/2002 9:38:07 AM
From: russwinter	Read Replies (1) \| Respond to of 39344

<bull market in metals is just starting> Although there is great leverage to metals prices , we are coming to the point where we need to see the whites of their eyes in these advanced and especially the producer names. If one buys or continues to hold in advance of some speculative expectation (even if one believes in the expectation) then that's no different than buying an inflated growth stock, because it's likely their earnings will be 40% higher in two years. You always have to ask what's fair value to pay/hold. So I think we stick to our fundamental knittings and apply some reasonable "real option theory" to each holding, and do so applying today's metal prices not a hoped for future price. To Jack: Outstanding reports from the field on the AGM's, the kind of work that really adds value to this thread and I REALLY appreciate that kind of contribution. Sounds like you came away with the sense that the MNP people are more about playing their ultra-cheap stock valuation (and it still is certainly that) than with creating (they have no particular game plan?) a true enterprise value? At least they are forthright about it? The problem appears to be a rather adversarial situation with PDG in a sense. Also as you've spoken recently with AAS and NGT, can you address Elizabeth's question on the heap leaching samples? My sense is that progress was slowed because of the drawn out JV negotiations? I don't believe the locals are a factor. Marcos and I have had this discussion about the NGT/AAS on his "Winter in the North" thread, read through responses: Message 17359679

To: Claude Cormier who wrote (3159)	4/21/2002 11:58:06 PM
From: d:oug	Read Replies (1) \| Respond to of 39344

"... difficult to [buy stocks] higher than when you sold then?" Claude, Is this related to "buy high, sell low" :o) or, guess its my strategy to never do a sell lower using that "hold long term" until it becomes wall-paper or finally finally price of gold exceeds $3?? with Gata Bill's Cafe saying $315 or $335 is the magic number. and, "... difficult to..." well, just degrees of difficulties here with you and Russ and many others here having more of what is a good thing to have... but, actually that marcos's post i copied over here that caused a stir in how a company can get listed on an exchange, and i forget the poster's name that spoke of the con job his father got, but i wonder if back many years when our father(s) were age like us now and investing in these gold mining companies, were there pay to receive news letters like you and Jim have back then, or was the lack of and need of them being that which created your home grown cottage industries ? Even if them scam and con people still existed, then all the more reason to pay someone like you what can be viewed as a tiny almost non-existence fee like $100/year to learn where and not to invest in this market sector. I will bet that eventhought Russ does all his own DD, that he still subscribes to places that also do similiar DD knowing that he can't be everywhere, and mistakes made using substancial cash can be a lost in money x1000 any subscribtion fees. But then them Old 49 Errors tell lies to make folks make errors and not buy your DD4Sale. d:oug