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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Bart Hoenes who wrote (7052)	1/25/2003 7:25:49 AM
From: que seria	Read Replies (2) \| Respond to of 39344

Bart: I don't know more about Gammon than what I've read on this board and in PRs, but I think a 5% discount rate is half or a third of the minimum appropriate one. This isn't General Electric. Even if most of us would sooner be in GAM than GE (as I would), discount rates have to reflect the market's rather than the promoter's sense of risk. To illustrate: I doubt anyone spending big money on capital investment would assign a 5% discount rate here. Please tell us if you find more on GAM; I haven't bought in part because I have too little to go on.