To: john a who wrote (7981 ) 10/25/1997 4:57:00 PM From: Terry Swift Respond to of 10482
John: You and I are looking through the same window. If you let the irrationality of the market dictate your decisions when you know what the facts are, you might as well go to Vegas or throw darts at a list of gold stock. One is as good as the other if you don't know the story and facts behind them. The gold stock market, especially the market in junior stocks, is notorious for playing with investors heads so you better know what in hell you're dealing with. I've been comfortable with Bema's methods (among the highest standards in the industry) and their strategy to build the company for a long time now. We also agree that people are gonna use whatever "facts" (that seems to have a very loose definition on this thread) they want to support their personal perspective on the stock. It took me a while to learn that, but I have. Discussing these stocks with some posters is a waste of time. They ignore the facts and would prefer to use some bull**** numbers from an analyst, insiders sales, the weather in Chile, the altitude of the deposit, stripping ratios, you name it, its been used, rather than looking at the big picture. Their perspective has become so warped, they can't see the forest for the trees. A 20 million oz minable reserve, another 8+ million ozs to be mined after that, cash costs of $79/oz, total costs including capital costs of $182/oz and people are still hyperventilating over stripping ratios, the altitude of the deposit, the 3rd qtr results of Refugio and anything else they can dream up to delude themselves into believing CC will not be a mine. It is truly amazing to watch. Terry