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Gold/Mining/Energy : Gold Price Monitor
GDXJ 97.99+0.3%4:00 PM EST
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To: russwinter who wrote (63241)2/2/2001 7:49:02 PM
From: goldsheet  Read Replies (1) of 116753
 
> Couple points on the ability of miners to produce 54 million oz and still survive beyond this decade

.. but that wasn't exactly the point of my post.

There are enough miners producing enough ounces (82moz) to keep the game going a bit longer than the gold bulls have expected. Folks have been predicting the demise of the gold business and a big rally for years, but it has not come, and might not come for a few more years.

I made NO predicitions going out a decade, although there is a history of folks finding more reserves in the natural resource industry. Paul Erdman predicted oil reserves available in 1975 would run out by 1999 using static linear projections. I do not recall that happening and believe the world has more oil reserves now than in 1975. I think gold business can keep going at near record levels (2500mt+) and seriously doubt a 10% drop is possible/probable.
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