Forum Archive Index - February 2002

["Desmond McDonnell" <desmondo@labyrinth.net.au>]

Re gold, you say “to be forewarned is to be forearmed.”

Fine, about what exactly are you warning? Are you trying to say
that gold is a bad investment. So gold will fall, will it? Really?
And to what level, do you think?

Gold is only just coming off a 20-year low. Everything else has
risen. Why shouldn’t gold?

More and more people are shunning paper bearing the signatures
of bankers promising nothing but more of the same lies.

As for gold shares, they are hardly expensive. Can you say that for
other shares?

Let’s just stick a pin in the sharemarket pages and see what’s turns
up. Just a sec.

OK, Croesus. What’s its code? CRS.

Let’s do a google.com. Bing. CRS has a website. Hmmm. Seems
it has just taken over Central Norseman from WMC. This gives it
ownership of Australia’s oldest continuous goldmine. 65 years on
and additional resources still being found.

CRS annual production about 250,000 ounces. Makes it about the
size of Hill 50. The canny South Africans have just taken over Hill
50 for A$237m. Now what’s CRS’s marketcap? A$40m. That’s
quite a discrepancy.

So, are they deep in debt? Nope, zero debt! OK, now what Kiwi
company has zero debt, any?

Cash reserves A$10m. Which they do not seem to be spending, as
PlacerDome is putting up A$10m to earn a 75% interest on their
prospect at Kalgoorlie.

But you would try to tell us that this gold stock is a bad
investment.

Alright, which gold stock are you talking about? Barrack?
Anglogold? No argument there!

Instead of throwing mud at gold and gold stocks and gold
investors, would you please answer my original question - why I
logged into this not so informative chatroom?

What are the names of some NZ gold stocks? Or do I have to go
and talk to a broker?

Or are you the only person on this channel? I have seen that
before.

By the way, your knowledge of religion is even worse. You say
that “in church they preach ‘God helps those who help
themselves.’”

Excuse me? You will not find that used in churches. This red
herring is certainly not from the Bible. Where on earth did you get
it? Sounds more like Buddhism or New Age or Hinduism or
Judasism than Christianity.

For Christianity's central teaching is not selfesteem and
selfassertion but God and the Other first, self (including one's
opinions) last. "If any man will come after me, let him deny
himself, take up his cross, and follow me."

With esteem, yours.
Peter Jenkins
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