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Gold/Mining/Energy : Pacific Rim Mining V.PFG
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To: Phil Jones who wrote (13971)10/24/2000 9:40:08 PM
From: Richnorth   of 14627
 
An excerpt from a GATA report:-

John van Eck has served his Weekly Gold Market
Update at The Kiki Table.

"The prices of gold mining shares, contrary to the
price of gold, have made unexpected sharp declines of approximately 20% since their September highs to
new all time lows. In our opinion, this must be
the final "washout" or "capitulation" stage of
their bear market, which began in 1980. They are
extraordinary cheap. Their current prices reflect
a theoretical gold price of approximately $ 250.
an ounce, a discount of about 8% from market. They
almost always have sold at large premiums to the
gold price. Perhaps the market has been spooked
by the unexpected announcement of several mine
closures."
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