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Gold/Mining/Energy : Namibian Minerals Corporation -- Ignore unavailable to you. Want to Upgrade?

To: George J. Tromp who wrote (37)	4/19/1999 9:15:00 PM
From: Douglas Freeman	Read Replies (1) \| Respond to of 124

Yeah, it's hard to say what this thing will ultimately be valued at. A lot depends upon what coverage & attention the stock gets, & whether the minerals sector comes back into favor. If you look at the news release from mid-march though, about the time this thing ran to $3.50, the average $ per carat was much higher in March than in January & February. That was partly due to the sale of some finer diamonds, but the company itself said prices were rising, & the revenues for this Q will reflect a higher price from start to finish. I suspect the market won't mind assigning a decent multiple to a firm that's exceeding expectations & has sharply rising profits. I followed URIX a few years back, a uranium company that ran from 2 to 17 on rising uranium prices (plus the fact they were one of the few ways to play the industry, like NMCOF), & I don't think they ever had annual eps over 20, so I don't count anything out. Cheers to being long. ID