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Gold/Mining/Energy : A New Age In Gold Refining -- Ignore unavailable to you. Want to Upgrade?

To: Irv A. Weinberger who wrote (570)	2/1/1998 5:45:00 PM
From: Michael J. Wendell	Read Replies (3) \| Respond to of 672

Hello Irv, You are an example of why I started this thread. I wanted investors to know more about the science regarding conventional and DD gold so they can decide for themselves about the right amount of risk they feel comfortable with. T Bills are low performers but seemingly without risk. Gold producer stocks are more risky because reserves deplete, metal prices are not constant and most of the risk is in management. On the other hand, one or more DD companies may succeed in crossing the line from speculation to profitable growth companies. The historic failure for this group does not speak well for them But if one crosses the finish line, "Katy Bar the Doors". In the later event there will be a number of great success stories, but most of the companies that are failing now will still be among the loosers after the first success. Poor management doesn't get any better because a discovery is made. It is a cruel fact, but one winner doesn't pick the next winner. There will be other winners to follow the first, but they might not come from very many, if any of the current crop of DD companies. The way I see it, most of the investment money will follow the winners and the losers will follow the losers. At least that is my opinion. mike