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Gold/Mining/Energy : A Little Forum For Gold Microclusters
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To: JACK R. SMITH JR. who wrote (129)2/16/1998 11:32:00 PM
From: Michael J. Wendell  Read Replies (2) of 142
 
Hi Jack,
Spins and all, are we talking politics or what. Today on CNN I saw that one galaxy can pass through another galaxy unscathed, or at least they think so.They have just seen two galaxies that are coming out of each other.
When I was a kid I played spin the bottle, the bottle was empty.
Hey, just another thought on spin. With gold going lower, the reporting practices of producing gold companies will become more exposed if one studies them hard. Its in the accounting. Some companies say their cost to produce gold is $180 per ounce, others say it is $260 per ounce. Now in mining it can be deceptive as to who spends what. One company includes some exploration and mine development costs on mining and everything they can which buries some expenses against operations, others report only the bare minimum costs. Minimum costs include digging, milling. Marketing, the paper work, overhead and reclamation are not reported as part of the cost of the gold. Therefore, companies that bury costs will just reduce expenses and look as good as ever in light of the lower gold prices. Companies that make their cost appear to shine a little brighter might start to be seen a little dimmer. It would be interesting to see how the costs of last year vs overall company profits measure up this year. This is especially true if the price of gold remains below $350 per ounce for an extended length of time.
I am going on a field trip. Will be gone until about the first of March. I will look forward to getting back to the thread when I return. mike
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