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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.99

+0.3%

Nov 11 4:00 PM EST

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To: Alex who wrote (52638)	5/13/2000 2:37:00 PM
From: goldsheet	Read Replies (1) of 116753

> AngloGold to reduce its South African production target for 2000 by 4% or 7 t. 7mt is only 200,000 ounces, which will be easily made up in other areas of the world. RSA production peaked at 1000mt (32.2moz) in 1970 and has been on a decline ever since. The drop from 465mt in 1998 to 450mt in 1999 wasn't even noticed in a world where primary mine production went from 2555mt to 2569mt, covering the 15mt drop plus an extra 14mt. Gold production also peaked in 1997 or 1998 in the United States, Canada, and Australia, and these gaps are also being made up with very impressive projects elsewhere. > Australian gold companies are vulnerable to takeovers as investment interest is depressed and the sector is undervalued. > the world gold industry may end up with just seven or eight large gold producing companies. They must be reading my posts <grin>. I have been suggesting for some time that Australian miners are the most likely to be taken over, and more consolidation is needed. The top ten gold producers do 35moz outs of 82, but it should get over 50% eventually.

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