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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Frank Pembleton who wrote (12056)	5/9/2002 10:29:59 PM
From: TrueScouse	Respond to of 36161

Frank: Your policy of rotating funds from what you see as the more expensive stocks into the lower-valued sounds very sensible, as long as you're maintaining a reasonable exposure to the pm sector -- which I'm sure you are! The key point Paul Matthews is making in that article is that neither the XAU nor HUI are overvalued in terms of the current POG when viewed from an historical perspective. And certainly when you look at the long term charts of many of the better juniors, you see that they have a long way to go before they get anywhere near their highs of 1996-97. If this is the "next gold bull", then I would expect it to last at least 3 to 4 years -- and we're only 1 year into it. We'll have to have nerves of steel at some points during that time. I remember quaking in my boots in 1979-80! :^) Regards, Howy

To: Frank Pembleton who wrote (12056)	5/10/2002 1:05:40 AM
From: russet	Read Replies (2) \| Respond to of 36161

Howy... an f/a question on some of the companies I play... isn't anything that is trading beyond 2x P/B considered expensive? According to Research Capital the average NAV at todays POG is at 2.3x -- I've been rotating out of what I've considered expensive and into stocks that are trading below NAV... Have you found any producers, or soon to be producers besides BAY.t that aren't trading 2x next years Nav, or 2x current book? I'm having a hard time finding any without looking at some bluesky, higher production, higher POG's, or reading a lot in between the drill holes.