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

To: Louis V. Lambrecht who wrote (16938)	8/16/2003 3:09:56 PM
From: Andrew	Read Replies (1) \| Respond to of 39344

Yes one must rebalance. I have been slowly moving money from the more speculative big gainers of the last year to what I percieve as the leveraged but quality producers. My thinking is I retain much of the upside potential with less downside risk. That said however the only nonproducer I will continue to hold for now is AZS as I believe PDG will have to buy it for upward of 100$US per oz. It would certainly make the economics of the Cerro Casale project much different for Placer, giving them 76% ownernership if they buy AZS and the 25% of 18 million OZ plus copper byproduct that goes with it. 4.5 million oz * 100 / 40 million shares out = 11.25 US or 15.75 $Can I believe this stock has been neglected. Current valuation based on reserves at 350 gold as per PDG study values AZS at about 15$US per oz not including the copper. If one believes that gold is going to beyond 450 then this may be one of the safest leveraged bets available and my 15.75$ valuation may be a bit conservative. bema.com