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Gold/Mining/Energy : NORTHGATE EXPL (NGX.TO) -- Ignore unavailable to you. Want to Upgrade?

To: tyc:> who wrote (76)	7/6/2002 7:35:11 PM
From: tyc:>	Respond to of 158

I'd better qualify my remarks in the last posting. The valuation model does NOT apply to hedged reserves. Hedged reserves are valued at their NAV without an added option value. (But hedges have been reduced by the recent financing, so applicable option value is increased accordingly.)

To: tyc:> who wrote (76)	7/7/2002 12:13:41 PM
From: Elizabeth Andrews	Read Replies (1) \| Respond to of 158

I read it as well and believe that the situation for junior companies with ounces in the ground has never been better. That's partly true due to the fact that they are scarce. This should be good news to NGX shareholders. Also to Stealth shareholders, which company has a partially drilled-off deposit in the same area as Kemess North called the Pine deposit. Laasonde also predicted a property rationalization that could also play a big role in reducing the supply. A shift in investor demand will cause junior market caps to explode. It's not far off.