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Gold/Mining/Energy : Gold Price Monitor

GDXJ 90.35

+0.4%

Nov 6 4:00 PM EST

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To: goldsheet who wrote (63312)	2/4/2001 7:43:09 PM
From: russwinter	Read Replies (3) of 116753

Sounds like we both see it (a substantial portion of the gold mining industry)as the Titanic. I guess at this point you see it as listing but certainly not unsinkable? I however see it standing vertical with the propellers sticking out of the water. Just a matter of degree and time. BTW, I've been making this bullish call successively for a year or two. I have not been a gold bug or a perma gold bull. What's happening now is at the terminal phase and very different from just a few years ago. The main elements that have kept production flat lined to date are 1. working off the inventory of higher prices hedges. Probably 75% done now. and 2. very weak Aussie and SA Rand versus the US Dollar has masked the abuses of those producers. Good probability of reversing on the Aussie. 3. high grading and exploiting the best parts of marginal deposits. The extent of this process is admittedly hard to gauge.

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