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Gold/Mining/Energy : GLAMIS GOLD - GLG -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Miller who wrote (399)	5/22/2002 6:32:57 AM
From: paul ross	Respond to of 459

A recent e-mail from my resource stock broker: >>>>>My initial concern about the merger was that institutional investors might have felt Glamis was paying too much for Francisco and would sell off the stock. On the contrary, the institutions and Canadian brokerage community seems to have fallen in love with this transaction, feeling that it solved Glamis' growth problems for the foreseeable future. I guess in the eyes of the institutional traders, getting bigger is more important than paying the right price... As I mentioned in my previous commentary when the merger was announced, Glamis is a good company, but it is beyond fully priced at today's level of $8.54/share. The Canadian analysts now appear to be using some rather exotic valuation methodologies to justify that price. I guess that's good from the standpoint of the share price going higher, but I think it's becoming a bit reckless, and reckless usually translates into dangerous.<<<<< BWDHK...I'm still going to hold mine. As one poster over on the Dutch thread said: "you shouldn't even be thinking of selling a PM stock at this time"