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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: russwinter who wrote (578)2/7/2001 10:45:47 PM
From: goldsheet  Read Replies (1) of 4051
 
> Signs that the new NM/BMG combination will cut back production

It is only the appearance of a cutback, since Newmont had a real fourth quarter 2000 abberration from completion of mining the Deep Post surface deposit (an extra 1 million tons of ore), so anything in comparison will look like a drop.

here's what BGM+NEM look like:
(thousands of ounces)
1999 - 4175.5 + 770.0 = 4945.5
2000 - 4940.6 + 783.6 = 5724.2
2001 - 5400 (estimated)

The Bloomberg "reported 400,000 ounce drop" is relative to a huge 2000 production, which will still leave them producing at 454,500 ounces over the combined BMG/NEM 1999 level.
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