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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (24302)	11/4/1997 4:16:00 PM
From: BobS	Read Replies (1) \| Respond to of 35569

Claude, Thanks for your posts. Regardless of IPM, I'd like to understand how you value developing mining companies. Does geographical reserves mean the gold has been proven without a doubt to be in the ground, but that extracting the gold for profit is uncertain? Does proven reserves mean gold is in the ground (geographical reserve) AND it is proven to be mineable for a profit? Is a reasonable Market Cap formula the following: Cap = $D x Proven Oz of Gold ; where D is 20 in a depressed gold market and no speculation is built into the market cap. If the above formula is correct, what would D be in a normal gold market? What would it be in an "irrationally exuberant" gold market? Thanks for any answers you can pass along. bobs.