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

To: Alex who wrote (22407)	10/29/1998 3:20:00 PM
From: CIMA	Respond to of 116836

Good morning to you all. Last week, we reported adding new positions to the AGORA portfolio. One of those positions was in Kinross Gold and we stated as follows: _________________ KINROSS GOLD CORPORATION (K.TSE; KGC.NYSE) Kinross Gold Corporation needs no introduction. Despite gold market turbulence over the last year, it has been very difficult to purchase Kinross below $4.00 on the TSE. In fact, with the exception of the general stock market meltdown on August 31, Kinross spent very little time below $4.00. As of Thursday's close, Kinross closed at $3.72 and went as low as $3.62 for the day. Much of this can be attributed to the fact gold has been weakening and the stock market has been strengthening. Having said that, we feel very comfortable in the future of gold and major companies within the industry. This is especially true when they become cheap relative to the last 12 months of trading and for no apparent fundamental reason. Given the fact tomorrow is a Friday and that Kinross has been on a steady down trend over the last few days, we believe the time is right to add a Kinross trading position to our portfolio. We will be shooting for a price of 3.50 but will go as high as 3.70. Kinross volume is very brisk and presents no liquidity issues. ________________ As of this morning, Kinross Gold broke above $4.00, which also represents its technically important 50 day moving average point. It is too early to tell if Kinross will break significantly above this level but our current position at 3.70 gives us a great deal of cushion. If Kinross breaks upward, we will have a nice profit for our portfolio. If it retrenches, our low entry level provides a large level of security. That is all for now. Have a great day. Regards, Agora. The Investor's Investor. Published by Agora International Enterprises Corp. © COPYRIGHT 1997-1998 by Agora International Enterprises Corp. 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