Leucadia seems to be a company of choice here on this board and we admire them a great deal..they have much more to lose as they
did in the last downturn...They own massive stakes in FMG and Inmet...more than half their assets...yet no one questions the cycle
with them!
That is my problem with the market's view of Altius....it is not a gold stock that is speculation....they have $330 million in cash and marketable securities
and 0 debt!!! Their resource projects trade for nothing! Is iron ore going to fall off a cliff tomorrow? no...might it go down for a while...yes. Will China, India and
Japan stop building? No.
This is not a gold stock...and we see far less risk here than Leucadia...we get that the marketb does not realize it yet and that is why we continue to buy.
Dazel.