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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pittman who wrote (8853)	3/26/1998 10:42:00 AM
From: Bucky Katt	Read Replies (2) \| Respond to of 116753

Not gold, but on point>>>Soros has big stake in Apex Silver -NYT NEW YORK, March 26 (Reuters) - Long before Warren Buffett made his well-publicized bet on silver, international financier George Soros bought a big stake in a silver mine, the New York Times reported Thursday. Along with his brother, Paul, Soros controls nearly 20 percent of Apex Silver Mines Ltd (SIL - news), which explores for silver and develops mines, the Times said. The company, based in the Cayman Islands, has an open pit mine in Bolivia that it says ''may constitute one of the largest known silver deposits in the world.'' Soros, through Quantum Industrial Partners, initially invested in Apex at the end of 1994, the paper said. And he's not alone. Another investor is Louis Bacon, chief executive of Moore Capital Management and another hedge fund operator, the paper said. Bacon holds about 6.9 percent of Apex, a stake he acquired in 1996. Apex has been buying properties since 1993 and now has 27 nonproducing silver properties in South America, Central America and Central Asia. But its focus is the San Cristobal mine in Bolivia, a mine expected to begin producing silver in 2001. In its prospectus for an initial public offering of stock on the American Stock Exchange in November, Apex outlined the same case for silver as Buffett did recently when disclosing that his company, Berkshire Hathaway (BRKa - news; BRKb - news), had bought 129.7 million ounces since July. Apex said it had bought mining properties because of its belief ''that silver supply and demand fundamentals were stronger than the then-prevailing price of silver suggested.'' Thomas Kaplan, chairman and chief executive of Apex, told the Times in a recent interview that the company expects production costs to be especially low at San Cristobal - $2.63 an ounce. That should ''enable us to become the premier play in silver.'' With Buffett, Soros, etc, (leaking?) these stories in the press, are they wanting to unload, or are they "in" for awhile?

To: Ed Pittman who wrote (8853)	3/26/1998 10:44:00 AM
From: bobby beara	Read Replies (2) \| Respond to of 116753

Ed, bonds, stocks (equities just began wave 4 of 5 imo, and the Dow 9000 party made this a done deal, put away your party hats for a while -ggggg-) and the dollar weakening here, I think XAU is finding a bottom here (roughly 50% retracement of wave 1 up), and I think Wave 2 is bottoming here. IF my thesis is correct, wave 3 will be a 150% move of wave one that will put us at 84. Time is running out -g- (to get in if I'm right) Buy into Fear, Sell into Greed Don't discount this MAJOR announcement of the Millenium Coin. This will be a big HIT and put a major dent in Gold supplies (they'll be re-opening lots of them closed mines soon IMHO) bwdik Utility Index gone parabolic in it's last leg up since March 5th: iqc.com view in week mode to see the paraboli.