Natural Resources >> Sector Roundtables >> January 7, 2002
VICTOR FLORES is a Senior Analyst with HSBC Securities (USA) Inc., focusing on
precious metals. Previously, he was associated with Marleau, Lemire Securities,
Inc., and U.S. Global Investors. He earned both his Bachelor's degree in
Geological Sciences and his MA in Energy and Mineral Resources Management from
the University of Texas at Austin. A Chartered Financial Analyst, Mr. Flores is
a member of the AIMR and the Society of Mining Engineers. Profile
JAMES VAIL is a Senior Vice President and Portfolio Manager at
ING Pilgrim Funds, the successor firm to Lexington Management
Corporation. He was formerly associated with Robert Fleming, Inc.
and with Oppenheimer and Co. A Chartered Financial Analyst, he
earned his MBA from Seton Hall University and his BS degree from
St. Peter's College. Profile
GEOFF STANLEY is a Managing Director of BMO Nesbitt Burns. He joined the
firm in June 1998 as a Senior Mining Analyst based in its New York
office. His previous experience includes four years as an analyst with
other institutions in New York, and seven years as an analyst in
Australia. Prior to his career as an analyst, he worked as an
exploration geologist for Billiton in Australia for six years, with a
focus on base metals, gold and tin exploration. Mr. Stanley holds a
Bachelor of Science in Geophysics, Geology and Physical Geography (1980)
and an Honors degree in Geology from the University of Tasmania (1982). Profile
TWST: Victor, what are the most important factors to note with regard tothe performance of the gold stocks in the first nine months of 2001?
Mr. Flores: I think there have been two or perhaps