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Gold/Mining/Energy : Pangea Goldfields T.PGD
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To: Enigma who wrote (1163)7/12/2000 3:50:23 PM
From: russwinter  Read Replies (1) of 1178
 
I don't know what to make of ABX. As you know I have been a critic. There seems to be this sense that they are out to steal projects, dilute their partners and generally try to get something for nothing. Although there is certainly nothing wrong with shrewd deal making, at some point it is important to think in terms of keeping the junior sector alive. If their business ethics are as marginal as many infer (and it is admittedly hard to judge if they cross that line) then this short sighted approach will tend to come back and haunt them later.

I am really rooting for some new players among the majors who will pick up the ball and treat juniors with deposits a little more liberally. Unfortunately the majority of the majors are more "dead men walking". The industry is clearly in a severe crisis. To me, only FN/GOLD seems to have the potential to recreate a very tired business model and rejuvenate the industry.
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