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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.80

+0.9%

Nov 19 4:00 PM EST

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To: russwinter who wrote (48095)	2/5/2000 8:50:00 PM
From: goldsheet	Read Replies (1) of 116764

> Selling three or four years of future production and writing naked calls on mines that produce at $250 to $275 cash cost is blatantly bad business (and I think failed) practice. Who is doing that, not any of the majors ? Cash costs at Barrick are $135, Placer is at $159, Newmont at $175, etc.... Most of them are under $200/ounce. Even Gold Fields is down ot $200/ounce cash costs. Also, I look at it as selling forward under 20% of reserves, in most cases.

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