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

To: loantech who wrote (11197)	5/20/2003 12:16:42 PM
From: Michael Young	Respond to of 39344

VGZ has asset potential. The low float will lead to extreme upside if gold gets over $400.

To: loantech who wrote (11197)	5/20/2003 1:17:05 PM
From: russwinter	Respond to of 39344

<I am currently betting on drilling prospects > I'm no longer willing to do this anymore, as typically the outcomes of a season's drilling are too incremental to make much difference. The market's been ignoring good results, and trashing companies for average or poor results. I think GBG may be caught in the same bind, plus they have a lot of shares out to various parties to put these deals together. The fact that they too failed to confirm this rally indicates to me this (weak hands) is an issue. MNG, is peculiar though, because they are well financed right now, and their development costs for developing an initial mine are small. So they may be a rare exception. I don't think CBD can develop the same kind of plan? Why do you think they can? WHT has some balance sheet leverage, but has good internal cash flow from production, so they could avoid having to go back for dilutive financings at ultra-cheap prices. GBU's a question mark, we will have to see how they approach it. If they do a cheapie here, I'm out though. AGI is so far being very cautious about placements at cheap prices. I've had exchanges with John McCluskey to this effect. I think he's going to have to think out side of the box though, as the Canadian market isn't viable for raising money. I'd like to see them go to an industry player, and sell a stake for a big premium over the public market value. That will keep the shares in strong hands AND prove the real value of the deposit as defined by the private market (the industry). If AGI pursues the "traditional" route of placing shares through the churn and burn Cdn brokerage community (Cannacord, Haywood, Nesbitt Burns etc), I would recommend getting out of this one too.

To: loantech who wrote (11197)	5/20/2003 10:29:20 PM
From: russwinter	Read Replies (2) \| Respond to of 39344

text of Moydow letter to shareholders: sedar.com My comments on it: investorshub.com Based on my interpretion of the NEM pricing language, and given NEM's closing price today of 29.22, total payment for Ntotoroso will be US$22.9m in NEM stock, or $1.18 per share. text: Message to our Shareholders On March 24, 2003, your Company announced that it had signed a letter of intent to sell its interest in the Ntotoroso property to Newmont Mining Corporation. A 50/50 joint venture between Moydow and Newmont, the Ntotoroso property is located on the Ahafo or Yamfo-Sefwi belt in Ghana, West Africa. Initial consideration to Moydow for its interest in Ntotoroso will be US$20 million, of which Moydow will have the option of receiving up to US$2 million in cash and the balance in Newmont shares. The deemed price of the Newmont shares will be determined three business days before closing but will not exceed US$25.50 or be less than US$24.50. In addition, Moydow will receive a 2% net smelter return royalty in respect of all gold and silver production from the Ntotoroso property in excess of the currently defined reserve of 1.2 million ounces. In the past weeks your Company has been actively working with Newmont on due diligence and arranging the corporate structures necessary to complete the transaction. It is expected to complete the proposed transaction within the original timeframe of 120 days. The regulatory authorities require that the consolidated financial statements for the year ended December 31, 2002 be filed by May 20, 2003. The Company anticipates that a combined annual meeting/special meeting will be held in late July 2003. This will allow time for the preparation of the final transaction agreement and information circular/annual report and the completion of all legal and regulatory matters. Further announcements will be issued as things progress. It is the intention of the Company that a major portion of the initial consideration be returned to the shareholders in a tax-efficient manner. Once the sale of Ntotoroso is completed your renewed Company will be well funded and in a unique position to take advantage of the many opportunities that will undoubtedly arise. The Company plans to begin drilling on the very prospective True Grit property in Newfoundland within the next month. In addition, several new projects are currently being assessed with a view to an aggressive exploration program commencing in the next few months. The management and the Board of Directors wish to thank its shareholders for their loyal support and together we look forward to closing the transaction with Newmont and to further exploration successes. “Signed” Brian Kiernan President and Chief Executive Officer May 12, 2003