> If I am not mistaken, you've been harping about all the new LOW COST gold supply coming on stream.
You obviously must have mis-read my post, since the LOW COST production is already on stream.
(Cortez-800koz@$48, Pierina-837k@$42, Meikle-977koz@$96, Yanacocha-1336koz@$95)
Also, I was talking about record mine production in 1998 (2555mt), 1999 (2569mt) and 2000 (maybe 2600?).
The new mines are replacing all the mines that have shut down and added a bit more.
This is pretty consistent with what the World Gold Council, GFMS, etc... have been saying.
> So is Deutsche Bank wrong again
No, they said "output from most new projects would simply offset declines in existing production, which was set to fall after 2002"
2002 is a different year than I have talked about, and I agree that mine production will probably be flat to slightly down by then.
P.S. I wasn't harping, I have no musical abilities at all ;) |
