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

To: waverider who wrote (13994)	6/6/2002 1:19:20 PM
From: inchingup	Read Replies (1) \| Respond to of 36161

I bought some more BGO based on the premise that it will earn approximately $.10 per share in the next year based on its 79% ownership of the Julietta mine and gold at $325/ounce. For every $10 dollars gold goes up above $325 (if that should happen) it adds approximately 1 cent per share to earnings. If gold breaks out and the jointly held Refugio mine is reopened it will add substantially to those earnings. Based on the P/E of MSFT the profits from Julietta alone would value BGO at about $4.30 per share based on the $.10 earnings estimate. I think this is a good gamble.