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Politics : Gold and Silver Stocks and Related Commentary -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (14304)	6/15/2005 7:04:54 PM
From: orkrious	Read Replies (1) \| Respond to of 18308

Claude, I was just reviewing the ANO.to proxy materials. As a matter of practice, I virtually always vote against option plans. Management always grants way too many options at the expense of shareholders. My vote normally doesn't matter, but it's a matter of principle. In 2003 ANO approved an option plan which diluted shareholders by 12%. Now they want another plan since there aren't enough options left ungranted. The only thing which gives me pause is the new option plan is dilutive by "only" 3%. Do you have any thoughts on this? tia

To: Claude Cormier who wrote (14304)	6/16/2005 9:32:04 AM
From: Condor	Read Replies (2) \| Respond to of 18308

In short, a mountain can always be strip off from the top at a very low cost. You've got it producing and I'm still exploring. One produces profit and the other produces expense. I understand what you are saying, however, I'm still just trying to anticipate unpleasant surprises. I expect there will be some as we have already experienced unexpected delays and unexpected costs. C@eyeswideopen.com

To: Claude Cormier who wrote (14304)	6/16/2005 9:46:16 AM
From: Tommaso	Read Replies (1) \| Respond to of 18308

>>In short, a mountain can always be strip off from the top at a very low cost.<<< And to me, that is an argument that the upside of gold prices is limited by the capacity of newer, better, and bigger machinery and leaching methods to extract it. I would say that the past year has been quite good for gold. As of this moment, Kitco shows it up 12.75% for the year. If gold continues to appreciate at that rate for ten years (a rate that many common stocks--not all, to be sure--have at times achieved), the price of gold would be about $1,400 an ounce. For 15 years that would be over $2,500 an ounce. Imagine the mining activity that $2,500 an ounce would stimulate. How much does it cost to extract an ounce of gold from seawater? I write all this as someone who recently moved a good bit of the cash in my wife's IRA into CEF.