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Gold/Mining/Energy : Gold Price Monitor

GDXJ 117.34

+3.7%

Jan 5 4:00 PM EST

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To: long-gone who wrote (39446)	8/23/1999 10:12:00 AM
From: Claude Cormier	Read Replies (1) of 116842

<<As this "production" has near no cost (or even a negative cost), is there any impact? >> I doubt it very much... IMO, we are talking here of very small numbers from this source. A gold mine that is set to produce 25,000 ounces a year is very noticeable with large buildings, crushers, leach pads..or whatever.. I doubt you see many of these in the states you mentioned. Even if you saw 100 hundreds of similar operations.. you would still get a production of only 75-80 tons... which is pale when compared to the 1000+ tons of scrap last year. And if those 100 operations did really exists... they would likely be included in the official production figures. Artisanal production does exists and there may be more several dozens similar operations... but annual production per operation is probably only a few thousand ounces per year.

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