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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: doug5y who wrote (26509)	4/10/2007 2:05:14 AM
From: Paul Senior	Read Replies (1) \| Respond to of 78704

Doug5y, yes, I have a few EDVMF. Attempting to add more now; not so willing to step up though. Should have listened to Madharry a month and half ago and a point and a half lower. That's been a good move (about 6 1/2 to 8), and so gives me some pause. Stock is still below a growing nav though. As you allude, EDVMF can be kind of a black box where it's hard to understand the worth of what they own. Well, hard for me, anyway. I won't bet much more now, but if/as nav increases, I might be more willing to add substantially more then. Since I have only a few EDVMF now, I'm not concerned about duplication/proxy/differences between or among EDVMF and other mineral stocks. Sorry now I sold CCJ when a key mine flooded last year: Looks like stock has moved from roughly 37 mid March to now 46 pretty quickly following the continuing price climb in uranium. I hold a few shares of SIL. I have a decent size (for me) position in SU, having made several small purchases as price rose, my last buy being 12/13/05 @$66/19.

To: doug5y who wrote (26509)	4/10/2007 11:51:58 AM
From: Madharry	Respond to of 78704

Although I am happy with the way EDVMF has performed short term, (as some of you know its once again far and away my largest portfolio position) I re-iterate that its more of an investment bank for natural resources than a natural resources fund. I expect that the bulk of the money is made by obtaining shares and warrants in start-ups at low prices and selling them once they have reached a solid return on capital. Therefore there are times when EDV may hold as much as 50% in cash and its quite possible that it could be at a time when natural resources are skyrocketing. So EDV is just one of the natural resource components of my portfolio- which include SIL, plg.to, DML.to and other junior miners. CHK went above $33 today and I took some profits, I hold a fair number of longer term calls with a strike price of $35 so I feel that offers me some flexibility. Since I owned in the money calls which expire in April I did not want to take a chance on getting caught flat footed by a sudden decline.