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Gold/Mining/Energy : Metallica (MR T) -- Ignore unavailable to you. Want to Upgrade?

To: TheBusDriver who wrote (164)	3/16/1999 9:15:00 AM
From: EZbeliever	Read Replies (2) \| Respond to of 263

N. Wayne and Traveling Man ... Hold your horses. This is not the completion of the Cerro San Pedro permitting process! In a joint release with Cambior, Metalica announced the approval of the Cerro San Pedro EIS (equivalent). This is the most important step in the permitting process. Metalica has been actively pursuing this step for over one year. There are additional permits required, but they could not begin to flow untill this one was secured. The remaining permits are expected in the next one to three months. This information comes directly from Louis Lepry of Metalica. We have a difference of opinion on the merits of selling now. I'm not adverse to pulling the trigger on a double, but not on this one. I factor in the extreem depressionary environment in the mining industry and the commensurate share prices. The junior gold valuations we have seen in the last year might just be the lowest in our lifetimes. With an average cost in the 40's, I wouldn't even think about selling at a buck. In the not too distant future, we will be looking back at companies like Metalica and wondering how it could have been so cheap, and why we didn't buy more. EZ