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Gold/Mining/Energy : Pacific Rim Mining V.PFG -- Ignore unavailable to you. Want to Upgrade?

To: David R. Schaller who wrote (11027)	1/7/1999 9:53:00 AM
From: Shirley Owen	Read Replies (3) \| Respond to of 14627

Good Morning David, You were saying "And to think Barrick twinned 12 holes and didn't assay them meter by meter for comparative purposes...?" So they say. Trouble is there is always more questions than answers. Why, indeed, would they be drilling another 4 holes? Seems to me that I've heard that tune before, last year to be exact. Remember they were going to drill a few more holes and then there would be a resource calculation prepared,(which we got 10 months later.) We anticipated a decision from Barrick once the resource calculations were done. Here we are still waiting and wondering. Not much wiser as to what will happen than we were a year ago. You know, David, I've made so many guesses as to why Barrick is doing whatever it is they are doing, and why they are doing it...trying to decipher what is going on. All I know is that when the management was worried about the old management having enough shares to take back the company we got a flurry of news, but once it was in the bag for them, the news dried up and the mushroom has once again grown to block out any sunshine. Pretty sorry state of affairs! "Maybe even the assays on their bulk samples pointed out the disparity." Yes that could be also, but we will be the last ones to know that. Lord, it's frustrating! "Gold & silver are on the move again overnight. Silver up .17 & gold $2.40..dollar weakness? I usually use Kitco for my gold price, but they are not updated today, but that's good news on the gold and silver price. Perhaps some are worried about the Euro displacing or weakening the Yankee dollar as the equal or replacement for it. Maybe it's a spillover from the money that's gushing into the market. Who knows? I know one thing, and that is the big markets are running wild. Sooner or later they are going to wake up to a few very real facts of life out there in La La land. If I were a holder of stocks trading on Nasdaq or the DOW I would be taking my profits real quick. I'm sure a lot of this is new 401K money being poured into the markets because they don't know where else to put it for a decent return. All I know is that the whole of Southeast Asia is a basket case. Japan seems no closer to solving their problems, unemployment is growing in both Asia and Europe. Many of these countries are trying to use some of their manufacturing overcapacity by producing and shipping to the USA. The question is, how long can the U.S. allow the trade deficits to continue to grow? More importantly, when is the credit bubble in the USA going to burst. I heard some stats on the news the other night that the American people have the highest individual debt in their history, helped along by things like mortgages for 125% of the value of the house. Credit cards being punched out like tickets to a ballgame, and everyone riding this euphoric wave into ever more buying on credit. The U.S. is not an island...it is living in a world with some very big problems, and when they can't sell to countries who are in financial trouble, and the American consumer is financially gorged to their limits on credit, and can't afford to buy the foreign goods or their own country's good either...what then? Many of the stock prices have no correlation to earnings, and not only that, but every month you hear of more companies announcing lower than expected earnings. Then there is the NASDAQ, which is the ultimate insanity. Some of these stocks trading in the hundreds have no earnings yet at all, and may never have. I tell you, David, it's going to get ugly out there when all the roads meet. Mind you when things get really hairy, and there is a lot of uncertainty, gold becomes a safe haven. For as much as people like to say it's had it's day, it hasn't. It is the one metal that can be used like cash almost anywhere in the world. So it is more than just a precious metal... it is a currency as well. There I go rambling again ...... Cheers Shirley