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Gold/Mining/Energy : Gold Price Monitor

GDXJ 145.00

+2.0%

Jan 23 4:00 PM EST

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To: Gord Bolton who wrote (48530)	2/8/2000 9:13:00 AM
From: Enigma	Read Replies (2) of 116906

Gord: Maybe what we're seeing is that hedging has not really been the problem - those who are cutting back - or ceasing - are still selling of course - into the spot market. I'm with Bob Johnson - in that the problem could be the awesome amount of gold that companies like Barrick are bringing on stream - for example Pasqua is already at 18 million ounces and will obviously become very much bigger - there are now three mines in Nevada with more to be discovered, Bulyanhulu in Tanzania is at 7.5 million ounces, but really they see 10 million with much more to be found, and so it goes. The company has ceased grass roots exploration and will concentrate on developing its 'areas of interest' The big are getting bigger - very much bigger.

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