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

To: Michael Bidder who wrote (25767)	12/19/2003 2:08:33 AM
From: E. Charters	Read Replies (1) \| Respond to of 39344

When your imagination is a runaway horse with your tattered dreams tied to it, don't go splattering silver paint on the picture, as the horse will turn its rear to your backdrop and let fly with the more likely colour. Now lets do some geofantasy here. Folks tell me that PFN with its 25 dollar rock and 200 foot widths and possible 11 kilometre potential.. that is 100 or more drill holes ahead of IMA.. with no legal problems big time major support, carried to production and no impediments to development..they tell me it might be hungry... PFN admits the scale is perhaps 35,000 tons per day at that grade... which seems to be supported by the new Anglo Plats SA open pit mine they are opening... -- so now what is IMA .. without any of these positive features? Let's say it's 150 feet wide, and 6 kliks long. and we go to 500 feet deep. That is 123 million tons. At 3 ounces per ton, that is 369 million ounces. That is 2 billion dollars. But it is $16.80 US rock, which will require 20,000 tons plus per day to make it work. And perhaps more. That is 200 million. And how many drill holes will it take to prove this garden of silver? About 1500. In Argentina that is going to cost them 25 million dollars. And is it that? Hard to tell. Without a lot more work. Don't get me wrong, I am in favour of mining promotion. Without it, a lot of mines would never get found. But I have the right to a bit of healthy skepticism. EC<:-}

To: Michael Bidder who wrote (25767)	12/19/2003 7:24:42 AM
From: TheSlowLane	Read Replies (1) \| Respond to of 39344

"...for Petes sake how do you expect to make a decient return?" My base metals basket gained 100% this year. My precious metals was up over 40% (obviously, I have some work to do here). I can't speak for Ralph, but I expect to make a decent return by doing what I just described to you and by keeping mitigating my risk by spreading it. It's much harder to recover from a blow like IMA if you are all-in-one. I realize I am speaking to the deaf here, but perhaps others might benefit.

To: Michael Bidder who wrote (25767)	12/19/2003 9:54:40 AM
From: peter snowdon	Respond to of 39344

in between one stock and 45, there ARE other options. i find if i have less than 4 i get intellectually restless, and if i have more than 6 i start to lose track of who does what. i spend enough time on DD to feel like that is enough diversification. and in this market, anyway, i'm not sure diversification will provide the right kind of protection. JMHO: peter

To: Michael Bidder who wrote (25767)	12/19/2003 7:39:12 PM
From: Michael Bidder	Read Replies (2) \| Respond to of 39344

Is anyone Brave enough to place any bets on IMA's prospects? I think Bidder's adviser did pretty well calling it. Although we were expecting high-grade veins to continue to depth and I was relying on them as a basement protection on the stock. So in hindsight I feel I was more LUCKY THAN SMART. Based on Drilling I am Boldly projecting 4-5 million ozs Gold equivalent in this area alone if hole 4 and 5 come up roses as the bottom of hole 4 indicates. (7 oz Ag/ton)