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Gold/Mining/Energy : MIRAMAR MINING (MNG) -- Ignore unavailable to you. Want to Upgrade?

To: PaulM who wrote (236)	5/29/1998 1:15:00 AM
From: Mike McFarland	Respond to of 457

(way too long a post, especially after yours was so succinct, apologies, I guess I get all my chattiness out on SI...) <this is IMO a good 401k stock. Buy and forget.> agreed--market makers have already got too much from me as I "adjusted" my portfolio. Whenever I do something stupid like that (like the other day when I sold a little of most of my holdings to get some more cash) I soon remember that MAENF is already like the cash portion of my account, only better. Unless of course gold stays at these levels beyond 1999--when the hedging runs out. MAE says they are hedged well into 1999, hopefully that will get them through the rough patch--and maybe all the way to the failure of the Euro in 2000. Fron the president's letter, tenth paragraph: "As a result of the cost control measure taken at the Con Mine, the Company's strong hedge program of 117,000 ounces of gold at US$428 per ounce, and its substantial cash position, Miramar is not only set to weather the current storm in resource equities but is well placed to take advantage of opportunities as they arise. Depressed equity prices provide Miramar with the opportunity to acquire production and/or development assets at substantially reduced prices, while still being able to support the advancement of Northern Orion's valuable projects" Though I don't really have many shares, it will be fun to go the meeting, wife would like to have a couple days in Vancouver, and for us it is not much of a drive. Anybody on the thread know if the strike shut down Con Mine--I guess that saves some money, too bad for workers tho.