Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: russwinter who wrote (7255)	2/4/2003 10:22:06 AM
From: Canuck Dave	Read Replies (1) \| Respond to of 39344

It is really fun watching the action in GG. It has been heavily shorted in the last 6 weeks, but the gold price is just too strong. I suspect there's lots of issues in this category. Looks for a bunch of names to all of a sudden pop large. CD

To: russwinter who wrote (7255)	2/4/2003 10:47:00 AM
From: Bruce Robbins	Read Replies (1) \| Respond to of 39344

I think the most frustrating part of this is the dearth of deals. Why would mining company executives get smart all of a sudden <ng>? Here is an example of stupidity caused by management problems: Placer Dome could have bought all of Royal Oak's assets in Timmins for a fire-sale $13 million bucks back several years ago. Their management looked at it and said no even though there was at least $13 million in equipment sitting on the properties. As a result Kinross stepped up to the plate and bought the assets. Over the next several years, Kinross did OK in Timmins while Placer could have used more feed for its enormous mill. Did Placer take over Kinross when it was under $1 a share? NO. When Placer finally decided to get the Kinross assets in Timmins (last year), they paid maximum price and only got 51% control of a JOINT-VENTURE (their stuff and Kinross's). S-T-U-P-I-D. And if this is not enough stupidity for you, look at the Placer and Novagold story at Donlin Creek. Corporate management, investors, almost every being on the planet loves the saying Buy at the bottom and sell at the top but very few are able to put this in practice. Look at all the top-price corporate mergers done by the tech companies at the TOP of the bubble!! The same sh#t is going to happen with the mining stocks IMVHO. That is why I think you'll do better if you buy mid to small producers or juniors with reserves- they will be taken out at top price. Look at this chart for NRI: image.stockwatch.com Does it look like the gold price rise has been factored in...