Smelling Gold In Vengold

Despite inflation fears, gold stocks have failed to glitter. They have, in fact, been sorry losers all year. No matter, says Douglas Kass, research director at J.W. Charles Securities in Boca Raton, Fla. Bearish on stocks all year, Kass isn't necessarily a gold bug, but he's putting money on Vengold, a Canadian company with big stakes in mining properties in Venezuela and on Papua New Guinea's remote Lihir Island. The company has yet to post revenues. And its stock has been battered, collapsing from 12 in February to 3.

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