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Gold/Mining/Energy : Hecla Mining(HL) -- Ignore unavailable to you. Want to Upgrade?

To: dwight vickers who wrote (125)	11/12/1997 7:16:00 PM
From: KAZHAK	Read Replies (1) \| Respond to of 629

I have also been looking at individual gold companies, trying to pick the most undervalued, in hopes that there may be some consolidation in the industry.. The best candidate I have seen so far is AEM, or Agnico-Eagle mines. I recently called them and supposedly they have $130 million in cash, and a production cost of $215 per ounce of gold. They have been in the gold business for 25 years, and have thier big mines all in Canada. The only debt they have is a small issue convertible bond. AEM's current market cap. is $220 million as of today's closing price. So basically the market is assigning a $90 million value to the company besides cash. There may be something I am missing, but I have not found it yet. I am not sure if AEM hedges their gold production, I forgot to ask, I think that they do not hedge. If gold ever decides to move up this stock will give you a lot of leverage. Any other info on this stock from anybody would be appreciated.