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Gold/Mining/Energy : Goldfield Corporation GV AMEX -- Ignore unavailable to you. Want to Upgrade?

To: Roger L. KuerthPreacher who wrote (11)	7/22/1998 4:54:00 AM
From: William Harvey	Read Replies (1) \| Respond to of 13

Here's a question for the thread: What is Goldfield's next purchase and how soon will it be? After taking a little inventory of my stocks, guess who came out on top as far as (cash on hand)/price? GV!!! For every dollar I spent on Goldfield (at 5/16), I was picking up $.45 in cash (or $.14/share). Even JBM (one of my other holdings), who is getting set for a jewelry chain store buyout, only yields $.30 cash on hand per stock price dollar. Analysts sometimes take the real PE to be (stock price - cash on hand)/earnings. Had we not been spending so much more on heavy machinery in 1997 over the year before (a $700k difference) we would have earned 3.5 cents/share. Divide that into ($.31 - $.14) gives a PE of about 5 for 1997. We're lean and mean. This is tremendous but why all the cash? It can't be to service the debt since we improved our assets to liabilities from 7.3:1 in December 1997 to 8.0:1 in March 1998. Maybe they'll declare a $.10 dividend. That would get some attention. WH