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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: marcos who wrote (41246)	5/28/2007 2:56:11 PM
From: loantech	Read Replies (2) \| Respond to of 78403

I have moved a significant amount of capital into WGI. It had a big run but IMO the price was beaten down by mismanagement prior to the Randall Oliphant team coming in. So at this point I am not profitable or if I am not by much. But as Hugh pointed out on BNN last Friday WGI sells for about 50% NAV and when production starts in April of 2008 he sees 100-150% NAV. So not a bad potential return and I see very little downside. Shovel is fully assembled and trucks are on the way. BTW the trucks even have spare tires. LOL. Here is a tidbit. WGI has the credit line for 105 mill, they did a financing for 75 mill or so. They needed 116.6 mill to buy all the equipment, pre strip, build the new leach pad and all contingencies. Leaves a bit over 60 mill. I understand when the stock is 3-4 bucks or so they may do another share offering. Last time they did the offering with no warrants and I expect the same on the next round. Looking at an accretive acquisition. Maybe the big kahuna. I wonder what lies in the neighborhood of Mesquite within 50-100 miles including south of the border. They are very professional about guidance and news and keeping on a time line. I have not yet reentered MMG. Seems to bounce up and down a lot. The smarter traders make money. Not happy with how news has been disseminated this past year or more. There is no doubt that MMG has the metal in the ground. I still have about 40% of my GGC left. When I sell it I will decide. I may just dump all of it into WGI and go for broke. Or I may take smaller positions in MMG, CKG warrants and POM to offset my large position in WGI and USA.