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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: re3 who wrote (13648)	5/11/2004 12:43:03 PM
From: russwinter	Respond to of 110194

They reported $12 million in cash flow for the quarter. In the presentation at Nesbitt Burns they talked $70 CF a year at lower copper prices. In the release biz.yahoo.com they explain away the shortfall as temporary mine plan stuff. In this environment though, that's enough to totally destroy the stock, which appears to be what's happened. I ended up using NTO as my big copper play position, not NXG, but now NXG is a free play. It's interesting that both ABX and AU are talking about the money they are going to put into juniors. The majors must realize this may be their last chance to grab some of these deposits at reasonable prices. One would think the managements of the juniors and smaller outfits must be getting weary of having the market continually discount and ignore the progress they are making. It's like every time they get their heads above water (mid-2002, and late 2003) on stock price, a two by four smacks them. It's very important to stick with the shrewd managements that have an end game. Some in my mind are obvious in this respect, for instance AGI and NTO. Others, I'm not so sure. What's GBU's end game in all this for example? MFN? CLG? Hard to say, but nevertheless, we are going to see some munches coming, and I hope to be in a few.