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Gold/Mining/Energy : Gold and Silver Mining Stocks

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To: russwinter who wrote (84)	2/10/2000 11:49:00 AM
From: goldsheet	Read Replies (3) of 4051

I agree, especially on these huge marginal deposits that depend on copper AND gold to make the economics work. The capital costs are insane, which means only the biggest can finance them, which I think supports my "big get bigger" theory. Homestake annouced: "New York--Feb 9--Homestake Mining Co. may engage in some hedging to finance development of its 60%-owned Veladero property in Argentina" It might mean something when you pay so much for an asset you don't have enough left to develop it. > given the preponderance of cash costs over 200, or even 150 That is the reason I did a weighted average, instead of a simple average. The table has 20+moz at 159/cash, 221/total. It looks like many are over 200, but several with big production the volumes are under $100/cash Athough not under $200, Anglogold just reported 1999 results, 6.9moza $212/cash, $244/total. I wish I could identify all of their mines to add to the list.

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