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

To: Enigma who wrote (94929)	5/9/2003 9:22:28 AM
From: E. Charters	Read Replies (1) \| Respond to of 116995

We are not sure who Peter Monk is (there was a Monk with Pezim we had thought) but there is a Peter Munk with Barrick. He hails from Nova Scotia originally and is an electrical engineer. He got his start with putting together Clairtone stereo with some government grants in NS. Great stereos but it went teats up, too much competition from the Japanese modular stuff . Anyway I believe he started Munk stereo after that in Toronto (Car stereos which were all the rage), which did better. When gold took off he got together with a guy from Haileybury, Bob Smith, and they managed to borrow 28 million to buy the Goldstrike property in Nevada. A few people were after that, but it sounded expensive. It turned out to be cheap, and the rest is history as they say. He used to have an office on Temperance street in Toronto I believe. One thing I find about Munk is that he is approachable, and you can talk business with Barrick, even if you are not on equal footing. I would imagine they would take the lion's share of any deal, but at least you can get a foot in the door. On the other hand, it has to be worth their while to manage, so something that didn't seem likely to grow probably would not be that exciting to them. I would bet Barrick would be receptive to offers on ground these days with gold starting to shine again. They do not do the Goldfields thing of grabbing the grassroots early, but they do go after advanced projects. It makes me wonder about things like Meliadine. Barrick's philosophy of building mines from advanced finds, seems like it works at least. They sure showed Noranda, Dome and Teck where the money is. Not surprising. Dome seemed to want to wrestle with difficult mines in Canada, and did not seem to have the open pit stuff overseas. Always getting tangled in politics. Teck never could run/explore/start a gold mine (they stalled on the Pogo), and Noranda either. Hemlo was an "anomaly" as they say. Drilled by a promoter and practically shoved down their throats. Cominco could not find gold if someone dropped the bricks on their foot. A lot of people think that the way Barrick did its stuff was pure corporate, but I think they owed a lot to Smith's judgement, not just to having hedge money. you have to know what mines to start. EC<:-}