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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.70

-0.3%

Dec 5 4:00 PM EST

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To: d:oug who wrote (97116)	1/23/2004 10:55:35 AM
From: marek_wojna	of 116796

Doug, there is very little gold to be discovered on our planet worth mining at present price. Most miners and juniors are going for what was discovered and in most cases mined in the past. Lots of talk about Alaska, but the cost of mining of main ore will be much higher than present POG. If POG will drop 20% miners will be scrambling to buy gold from CB's. And remaining gold in their vaults is IMO sold or leased to many parties, in the end most of them will be issued paper certificates at the price US is using to evaluate their reserves. BTW, German gold is not anymore in Germany but on the other side of Atlantic or who knows where at present.

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