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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Sharp_End_Of_Drill who wrote (12670)	9/4/2002 3:22:43 PM
From: aerosappy	Read Replies (1) \| Respond to of 206131

Sharp, indeed the "Madness of Crowds" is one of the scary parts of the PGO investment. Too often when many people think something is going to happen, that outcome is the least likely. Witness MacKay's classic "Extraordinary Popular Delusions & the Madness of Crowds" amazon.com My rationalization is that Mr. Market has undervalued PGO -- the market has set a price based on bankruptcy or insolvency. Yet, as we know, there are often market inefficiencies. PGO's free cash flow of $1.00 per share in 2003 should result in a price above $10 in the next 6 to 12 months. Frank and I need that price to make a reasonable return on investment<g>. More to the point is that Jens Ulltveit-Moe is a well-connected long-term investor who will be instrumental in a substantial improvement in PGO prospects and profits.