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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: Tunica Albuginea who wrote (41669)	9/30/1999 11:35:00 AM
From: Karen Lawrence	Read Replies (1) of 116764

Don't think this was posted. Bill Gates bought a silver mine. From Wednesday's news: BILL GATES buys in Pan Am Silver: The New York Times reports in a lead business story in its Wednesday edition that Bill Gates, the world's richest man and the chairman of Microsoft, has bought 10.3 per cent of Pan American Silver, a tiny silver mining company based in Vancouver. Reporter Gretchen Morgenson says the $15-million (U.S.) investment, made by Cascade Investment LLC, one of Mr. Gates's personal investing companies, was made public in a filing with the Securities and Exchange Commission on Tuesday. Although Mr. Gates's investment in Pan American Silver is only a fraction of his net worth, it is nevertheless a significant vote of confidence in the metals markets. News of Mr. Gates's purchase comes at a time when precious metals prices are jumping. On Tuesday, the price of gold rose 9 per cent, the biggest gain in almost two decades. Mr. Gates's investment in silver places him in the company of Warren Buffett, often referred to as the sage of Omaha for his investing success over the years.

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