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Gold/Mining/Energy : A to Z Junior Mining Research Site -- Ignore unavailable to you. Want to Upgrade?

To: 4figureau who wrote (231)	6/20/2002 1:34:16 PM
From: 4figureau	Respond to of 5423

SML hit .28 88 Versus bought 165,000 shares today.

To: 4figureau who wrote (231)	6/20/2002 1:38:30 PM
From: marcos	Read Replies (2) \| Respond to of 5423

ghm.v - Glenhaven getting the front-page-'o-kitco pump today - kitco.com ... i'm in for a few, had it on watchlist but never bought any until .33 this morning ... this Vaughn guy can really move 'em, look back on what he did with Seabridge and X-Cal ... so far he hasn't got ghm even to its 52-wk, i would expect this push to extend to tomorrow ... ?? ... play is based on Red Lake closeology - redlakeresources.com - they're going to change the name to Red Lake soon, that'll be a nostalgia hit 4au and Liz, thanks for talking up the Stealth sml.v, i was able to add shares starting at .16 last week ... somebody was talking about it months ago, was that you tyke? ... i searched about four threads, couldn't find a reference using either name or ticker ... maybe it was somebody offline ..... anyway, i got a few more today, .20s and a few .24s ... definitely a nice pick, though i have yet to form an opinion on management, never having spoken with them, but the numbers i like very much Couple of great articles - kitco.com financialsense.com

To: 4figureau who wrote (231)	6/20/2002 2:09:16 PM
From: GeoDude	Read Replies (1) \| Respond to of 5423

4F, A couple of comments on SML vs NGX (keep in mind that I view SML as a good speculative play with many unanswered questions. 1) gold grade at NGX is higher than SML (0.7 vs 0.4g/t). Cu grade similar. The profits are in the gold so this is bad. 2) NGX has proven reserves, SML has a WAG resource estimate 3) NGX has $200MM worth of plant and equipment paid for (debt removed very recently). 4) I don't think NGX will have spare capacity for a while i.e. they don't need SML's ore and SML would have to build a $200MM+ facility to monetize their reserves. 5) When comparing purchase/acquisition price, you should be real careful in using gold-equivalent figure when Cu is involved due to the different view on price of Cu vs Au. I would guess Cu-converted to gold would attract a lesser valuation than pure gold. Conclusion: SML is an interesting play but they need to discover some higher grade stuff (than NGX) to make their property worth something. Until then, it is only a trading play. Caveat: if Au or Cu prices go up and up, the above is less important and the stock will skyrocket ... IMHO of course LIA