GOLD MINING STOCKS AND GOLD MUTUAL FUNDS
          
               When compared with investing in gold
          itself,investments in shares of gold mining companies
          have a number of advantages and disadvantages, depending
          on your investment needs.  Among the advantages are the
          fact that most gold company stocks pay a dividend which,
          dependent upon its magnitude and surety, can yield
          current income from the investment.  And generally, if
          gold metal prices increase, earnings and often dividends
          will rise.
          
               You should also determine whether the company in
          question is a pure gold play or whether it has some
          degree of diversification.  Diversification, as such, may
          diminish the movement of earnings with gold price changes
          but may, however, provide cash flow and alternative
          earnings in times of low gold prices.  Individual
          portfolio requirements will dictate which factors are
          most important.
          
               An investment in gold mining stocks should be
          monitored on a regular basis because ore bodies can be
          mined out, unit costs can equal or exceed market prices,
          and mines can be shut down.
          
               As with all investments, there is an ongoing need
          for timely portfolio supervision.  If you can't or don't
          want to do it yourself, it can be done for you by
          investment in a mutual fund that invests in the shares of
          gold mining companies.  With such an investment, through
          the payment of a fee you can gain a professionally
          managed diversification of your gold mining stocks.
               
          
          Gold Mutual Funds Offer Many Advantages
               If you would like to make a modest investment in
          gold mining stocks and are looking for the safest and
          easiest way of doing it, the answer lies in mutual funds.
          
               Why?  First, easy investing.  Call a mutual fund and
          ask it to send you a prospectus.  If you like what you
          read, just send in your application form and check. 
          Second, you can invest in some funds for as little as
          $250!  Third, a gold mutual fund is less risky because
          its risk is spread through its ownership of shares in
          dozens of different gold mining companies. Fourth,
          there's also a possibility of dividends.
          
               But all investments related to gold mining are
          investments in a business -- not in gold itself -- and
          carry the normal business risks of any stock investment.