Are any of you following ECO - Echo bay. I found this interesting and was wondering if there were any deep problems with this company like it might go under soon or something. Is it cheap at 60 cents?
Echo Bay Mines Ltd - In the News
Globe says Barrick the cheapest gold producer
Echo Bay Mines Ltd ECO
Shares issued 140,607,145 2000-12-27 close $0.54
Thursday Dec 28 2000 In the News
See Barrick Gold Corp (ABX) In the News
The Globe and Mail reports in its Thursday, Dec. 28, edition that a recent study by National Bank Financial estimates that the total break-even cost for the North American gold mining industry was $290 (U.S.) an ounce during the third quarter of 2000. The Globe's Allan Robinson writes that National defined break-even as the total production cost plus general, administrative, exploration, taxes and other costs. According to the study, the lowest-cost producer among the major mining companies was Barrick Gold, which had an average cost of $277 an ounce during the third quarter. Among the mid-tier producers, Kinross Gold had the highest average total cost of $357 an ounce because of high depreciation and other costs, according to the report. The lowest-cost producer in the mid-tier category and the only one below $300 an ounce was Echo Bay Mines with a total of $287 an ounce. Trading activity in gold has been light this week with no real volume, continuing the same pattern that began toward the end of late last week, reports The Globe.
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