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Gold/Mining/Energy : Gold Price Monitor

GDXJ 120.00

+2.0%

Dec 22 4:00 PM EST

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To: Ken Benes who wrote (39598)	8/25/1999 6:44:00 PM
From: Crimson Ghost	Read Replies (2) of 116822

Ken: Your 4:46 post was right on the money. If the mining company managements had the shareholders' best interests in mind they would be consolidating big time and CUTTING PRODUCTION SHARPLY just like the aluminum, copper, and oil industries are doing. Instead of hedging at 20 year lows as the shorts continue to laugh all the way to the bank True. many miners are not financially strong enough to cut production for any length of time. Hence the need for massive industry wide consolidation. Once the mining industry can credibly threaten to slash production by 20-30% for an extended period the the shorts and bullion banks may well back off without the industry actually having to cut output.

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