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Gold/Mining/Energy : Gold Price Monitor

GDXJ 124.11

-13.6%

Jan 30 4:00 PM EST

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To: Crimson Ghost who wrote (57265)	8/13/2000 10:58:24 PM
From: goldsheet	Read Replies (1) of 116950

> If gold goes down to the average cost of production (much less below it), much of the world mining industry will shut down. Theoretically, if gold hit the average full cost of production, then 50% of the gold mining production should shut down, as you suggest. In reality, however, at least 20% of gold comes from copper mines and would continue to come on the market regardless of the gold price. Also, companies would continue to mine as long as cash flow is positive, which takes us down to an average cash cost of under $200/ounce. I am not suggesting or predicting any of these events. I still think gold production will rise in the 2003/2004 timeframe.

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