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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.03

+3.0%

Nov 7 4:00 PM EST

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To: d:oug who wrote (52389)	5/7/2000 9:25:00 PM
From: Hawkmoon	Read Replies (2) of 116753

If Ron Reece corrects his malign view of gold. If the price of gold exceeds $500/oz. If 2 of the above 3 come to be true, Dougie ma boy... aren't you even paying the most cursory attention to Bob Johnson's posts about small gold mines increasing production of gold on a quarter by quarter basis?? That tells a huge part of the story right there. As profit margin per ounce decreases, production volume increases to maintain quarterly cash flow. And it will continue until these gold mines get to the point where they are producting just above cost, or even below cost... That is when the mergers will commence wholesale and the industry consolidated. And at that point maybe the price will find a market equilibrium. (caveat emptor: it is always possible that a global crisis could send gold higher for the short-term... but that is event related and unforseeable). Regards, Ron

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