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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: pater tenebrarum who wrote (62237)	1/26/2001 9:21:08 PM
From: Fun-da-Mental#1	Read Replies (1) of 436258

Heinz: "near zero investment in mining" - as an ex-prospector I can vouch for that! Up until last year I worked in mining geophysics. The company I was at was slowly losing people by attrition and not replacing them. By the time I left there were only half as many people as when I started at the company five years ago. There were about ten of us wandering around a big empty office. The only thing that kept us going was our competitors going out of business! It was like a bunch of survivors on a life raft waiting for somebody else to die so they can pick their bones. Somebody would say "did you hear so-and-so closed?" and then there would be a lot of excitement as we rushed over to their office to pick up furniture and computers for pennies a pound. There would be one guy left saying sure, take it all, less stuff for me to carry. A few years ago there were about ten airborne survey companies. Some of them went bankrupt, and then the rest got bought out by a Dutch marine engineering company named Fugro which most of us had never even heard of before. Now there's Fugro and maybe two other small companies hanging on. By the way, our best customers were Barrick and Goldfields. They still have lots of money to throw around. People on this continent seem to think Goldfields is a small company, but it's not. It just looks small from far away! We never heard from Anglo, but I think that's because they do all their work in-house. I think Anglo is underrated because they work in secret rather than trying to promote themselves. But look at their profit - wow! I don't know why, most of our business was from gold mining companies, despite the pathetic state of the gold business. I guess there is something alluring about gold, people keep trying to find it, even when they'd be better off looking for palladium or lithium or even borax. Maybe that's why I'm a bear - the business I come from has been in a ten-year recession already! Fun-da-Mental

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