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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: James C. Mc Gowan who wrote (93996)	3/11/2003 12:48:09 AM
From: baystock	Respond to of 116837

Don't know much about AEM, other than it has been a darling of the unhedged gold miners, even though it has failed to deliver the goods. Here is an interesting post from Yahoo that compares several of the mid size producers, AEM included: messages.yahoo.com GOLD/RANGY comparison to IAG, GG etc by: jlm1jlm 02/08/03 02:47 am Msg: 9426 of 9738 See tables below: I read a report yesterday that suggested that Iamgold ( IAG ) is very undervalued compared to the other mid-tier gold companies such as Goldcorp, Meridian, Glamis and Agnico. The reasoning was that IAG has similar gold production numbers but has a market cap about 50% or less compared to those producers. Since I have previously suggested that Randgold Resources ( GOLD ) and Rangold & Exploration ( RANGY ) are way undervalued compared to IAG I thought I would do some further comparisons. Significantly, IAG has their major gold production in Mali, Africa as do GOLD/RANGY. IAG has production of 450 thousand oz and production costs of $180 per oz according to their web sit. GOLD has production of about 420,000 for 2002 and production costs of about $103 per oz. The major difference is that IAG has a PE of 40 while GOLD has a PE of only about 7. I think GOLD/RANGY are real sleepers!!! Here’s a rough comparison between GOLD, RANGY, IAG, AEM, GLG, MDG and GG. Earnings per share Comparison GOLD - $4.20 RANGY - $2.00 (Note: RANGY owns 48% of GOLD) IAG - $ .13 AEM - $ .08 GLG - $ .13 MDG - $ .49 GG - $ .34 PE Comparison GOLD - 7 RANGY - 6 IAG - 40 AEM - 175 GLG - 85 MDG - 30 GG - 38 OZ's of Production GOLD - 420,000 oz RANGY - 200,000 oz IAG - 450,000 oz AEM - 285,000 oz GLG - 250,000 oz MDG - 425,000 oz GG - 600,000 oz Market cap comparison GOLD - $430 million RANGY - $180 million IAG - $700 million AEM = $1 billion GLG - $1.4 billion MDG - $1.6 billion GG - $2.3 billion Shares out comparison GOLD - 14 million ( float = 7 million shares ) RANGY - 14 million ( float = 4 million shares ) IAG - 141 million ( float = ???? ) AEM - 70 million ( float = 67 million ) GLG - 112 million ( float = 101 million ) MDG - 98 million ( float = 97 million ) GG - 182 million ( float = 146 million ) Shares out per oz of production comparison GOLD - 33 shares per oz of production RANGY - 33shares IAG - 313 shares AEM - 245 shares GLG - 448 shares MDG - 230 shares GG - 303 shares These are the best figures I could find using the individual company internet sites and Yahoo finance. I can’t guarantee their accuracy. This is my rough evaluation only. It is not meant to be investment advice. Note - These are all great companies to own. I just think GOLD and RANGY have far more upside potential as they become better known.