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Gold/Mining/Energy : Dayton Mining (DAY) on TSE & AMEX -- Ignore unavailable to you. Want to Upgrade?

To: JAS who wrote (499)	4/25/1999 9:32:00 AM
From: Check	Respond to of 568

Dayton's year end and first quarter operating results will be out this week. I understand the mine is doing well and they are on target to produce the announced 138 M oz. this year at US $ 200 or better. With 84,000 ounces hedged at $ 340 and no debt noose around their neck, this should be quite positive. The big question is whether this is enough to absorb all the paper being dumped on the market by the debenture holders. At US $ 1/16 or CDN 9.5 cents, somebody is picking up the stock at about $ 160 per ounce of annual production. Barrick,(which trades at over $ 2,000 per ounce)it ain't, but at these prices it's a bargain nevertheless.