To: Andy Thomas who wrote (33271 ) 7/8/1998 1:06:00 PM From: Richard Mazzarella Respond to
Andy, Some speculation: Way back when, Mark Twain warned people about "gold mines". Rich people get rich and stay there by making rules and then enforcing them. Desert dirt's with difficult mineralization is hard to swallow by any conventional logic. People that invest in conventional mining would be the last to buy in. Their financial advisors would warn about it not being in their best interests. Money invests in gold by buying the XAU and companies contained. Why assume risk early on when there isn't a guaranteed early payoff? Some very smart investors let "others" take the first and last 10-20% of any move. Making 60-80% in-between with some safety is smart. The big money will enter when the risk is minimized. The market is well aware of difficult mineralization where mining isn't cost effective, they've been there, done that. Does that mean that desert dirt's are poor investments? Not from my perspective. I've seen enough experimental evidence to appreciate that the nut of desert dirt is almost cracked. However, I will admit to enjoy being in early on, risk and all. It's a psychological game with a personal reward to appreciate value before others. The stimulation is exciting, but no doubt it's high risk where I could lose my bet. It's more fun than a slot machine.
