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

To: jjkirk who wrote (21594)	11/8/2002 12:57:07 PM
From: Nelson958	Read Replies (2) \| Respond to of 36161

JP Morgan on Gold : JP Morgan initiated on gold companies, saying in short term dollar weakness is raising gold and the gold stocks. By 1H03, military action against Iraq should take gold higher, and firm forecasting $335/oz in Q1 '03... Initiating on Glamis Gold (GLG 8.96 +0.16) with Overweight rating, noting that stock looks expensive relative to its peers; however, firm thinks investors include GLG's growth projects in their expectations. This growth profile with high-return projects is rare in today's gold sector, and as management delivers on its growth plans, firm expects company to continue to moderately outperform other North American gold stocks. Also, firm starts Meridian Gold (MDG 18.05 +0.30) and Agnico-Eagle Mines (AEM 12.45 +0.07) with Neutral ratings, and starts Goldcorp (GG 11.08 +0.14) with Underweight rating.

To: jjkirk who wrote (21594)	11/8/2002 5:57:34 PM
From: yard_man	Read Replies (1) \| Respond to of 36161

Isn't this dilution?? DROOY got smacked on a convertible issue. Thing about BGO --this is 2nd time around for them -- had one earlier in the year. Not necessarily bearish, IMO. Have to get into the details ... Also -- might not like them going into Russia for more assets?? >>Each whole warrant will entitle the holder to subscribe for one additional common share at a price of $2.00 for a period of 18 months from closing. The Underwriters will have an option to purchase up to an additional 6,875,000 units at the issue price. The purchase of these additional units will result in gross proceeds of CDN$16 million. Proceeds from this offering will be used for general working capital. <<