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Gold/Mining/Energy : Naxos Resources (NAXOF) -- Ignore unavailable to you. Want to Upgrade?

To: Jerry in Omaha who wrote (13728)	6/19/1998 10:16:00 AM
From: Jerry in Omaha	Respond to of 20681

Also culled this morning from another thread...FWIW -- JJP "Gold's graphs, fundamentals indicate new Bull Run" - Goodwin Not for nothing has Fedsure's Nick Goodwin earned the title "Gold Guru" from his followers. A mining specialist who relies on both the graphs and the underlying fundamentals, Goodwin has called virtually every major move in the gold share since the run which ended in the 1987 Crash. So it's worth taking careful note when you hear him calling the start of a new Bull Run as he did this week. Especially when he's now expecting a doubling in the All Gold Index within the year. Over the past few months, Goodwin has been advising the accumulation of gold shares. Not as an investment, he stresses, because gold shares must always be viewed as a trading opportunity - something to buy when everyone else has sold, and to sell when everyone else is buying. Those who have followed Goodwin's advice have done handsomely already, not only in terms of the recent gains, but also through the losses they would have avoided by not going back into the stocks too early. He has been pessimistic on gold shares for some years, most notably since early 1996. During this time the Johannesburg Stock Exchange's All Gold Index has been in steady decline, falling by more than two thirds from a level of more than 2 000 two years ago. The former stockbroker started changing his mind towards the end of 1997 when the All Gold Index dropped below 700 for the first time. He has been advising steady accumulation of stock since then. Those who listened to him and bought as recently as two weeks ago would have already made an average of 35% on their money - and in cases where they followed the more aggressive recommendations, far more than that. In the wake of the All Gold Index's jump from the 600s to almost 1 000 in the last fortnight, Goodwin has now sprung a couple of surprises. Instead of adopting an approach of "I told you so", he reckons that this sharp rise in gold shares is the final confirmation of a turning point that has been many years in coming. Goodwin believes the surge of the past few days is only the start, and that it's by no means too late to get in. He expects some consolidation in prices around the current level, but is looking for another 40% run for the Index, to around 1 400, in the not too distant future. Thereafter Goodwin's talking of a surge back to the 2 000 level, and perhaps even higher. The other major surprise is his favourite speculative gold stock of the moment. Goodwin plumps for the dump retreatment operation Crown Consolidated, a low-profile "cheapie" (price: 140c) that traces back to the amalgamation of the old Rand Mine Properties and Knights. Goodwin admits that many other analysts would be surprised at his selection of Crown, but he says with the de-listing of many of the marginal stocks - especially Loraine - this is the best option left. And he's done his sums. At the current relative values, his expected improvement of at least $30 to $40 in the bullion price will do wonders for Crown's profitability and hence its share price. For those who want a balanced portfolio, though, Goodwin recommends Anglogold (30%): Western Areas (15%); Goldfields (15%); Randfontein (10%); Avgold (10%); Crown (10%); Durban Deep (5%) and Harmony (5%). For the risk averse, though, a portfolio spread between Crown and the Options on Randfontein, Harmony, Durban Deep and Free State Development promises an exciting ride. With the kind of record Goodwin's built up over many years, it's only the brave who'd back against him.

To: Jerry in Omaha who wrote (13728)	6/19/1998 10:45:00 AM
From: Kurt R.	Read Replies (2) \| Respond to of 20681

Jerry: >> both Naxos and Intergold are taking the route IPM was on, of drilling, fire assaying and proving a resource<< Thank you for sharing that with us. While I agree that "conventional" fire assays are important, in order to obtain the much hoped for credibility with mining analysts, you may want to remember that IPM did not fare well with their BD report. Can it be that BD treated a complex ore just a little too conventional??? Do you think it might be possible for Naxos to learn from the mistakes IPM made? Kurt P.S. Why do you continue call the exchange of information and ideas, even if they are sometimes controversial, "whining, feet beatin', bickering" etc.? Do you think we should not discuss ALL aspects of Naxos, including management's notion of business ethics?