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Gold/Mining/Energy : Royal Oak-RYO
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To: Thomas P. Talbot who wrote (538)12/7/1997 9:29:00 PM
From: maintenance   of 1706
 
If you look at Witte's track record, and the fact that the gov't put in so much money, this mine is going to open. I can't imaging RYO merging or JVing. Witte built up this company from nothing and I don't think she will let it go. I have my money on RYO and I am not losing any sleep. It is clear that this low price of gold cannot be sustained. The only wrench thrown in is CB's, they have the abbility to keep gold low for a long time. I read that Lassonde estimates that they have about 7 years of demand hoarded. I have read other estimates that put it at 20 years. If we accept Lassonde's view the CB's could keep gold down for many years, maybe 30 years. I would really like to know who is buying all the gold that is being sold short or net sold by CB's, that might shed light on when gold might stop dropping. What I can't figure out is who is benefitting from this gold situation.

Cheers
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