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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: Tom Byron who wrote (649)	2/6/1998 3:44:00 PM
From: Tommaso	Read Replies (1) \| Respond to of 8010

Yes --Callahan was up 4, I think, from 32 to 36 the day of the crash. This was a terrible disaster for me because I held a huge block of Callahan and this convinced me that I was a genius. Here's the market down, what, 25%, and here's my stock up ten or fifteen percent the same day. I had been right for nearly ten years straight on almost everything. In the next four years you would not believe how much money I lost. One of the advantages of diversification that is never discussed is that you are always LOSING on something, and this keeps you humble. More or less.

To: Tom Byron who wrote (649)	2/6/1998 10:48:00 PM
From: Ron Struthers	Read Replies (1) \| Respond to of 8010

Tom, CDE still has quite a bit of leverage to silver but their big exposure to gold is more of a factor now, espcially with the price of gold down. IMO this move in silver is just the beginning. It will take a wack of new mines to come on stream to balnce the market. Miners will want to see higher prices stabalize before comitting and then it will take years to get production rolling. The first new plateau in silver should be the $8 to $10 range. I predicted we would get there this year. I didn't expect it this soon though, We will see Ron