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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.98

+0.6%

Nov 21 4:00 PM EST

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To: lorne who wrote (62904)	1/24/2001 1:59:28 PM
From: goldsheet	Read Replies (1) of 116764

Here's the new PDG reserves/resources by mine: biz.yahoo.com "As a result, Placer Dome's proven and probable reserves decreased to 47.0 million ounces of gold as of December 31, 2000 from 65.9 million ounces at the end of 1999. Other Measured and Indicated resources total 62.0 million ounces, up from 23.9 million ounces reported in 1999" About 80% of the reduction was a reclassification of development assets from reserves to resources (which we already knew) , and only 20% was due to re-evaluating current operations at $300 vs. $325. They still have plenty of profitable reserves and will continue to produce 3Moz+ per year. Note: combined reserves/resources is now 109.0moz versus 89.8moz

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