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Gold/Mining/Energy : Gold Price Monitor

GDXJ 92.99

+2.9%

Nov 7 4:00 PM EST

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To: goldsheet who wrote (67282)	4/7/2001 11:47:17 AM
From: russwinter	Read Replies (1) of 116753

More mining supply considerations. Leonard Kaplan on South Africa (425 high cost tons). Also consider PGM equation.: The socialistic leanings of the South African administration continue. First was the change in the mineral rights, whereby private property rights were eliminated and all mineral rights were now vested in the state. Now, we find that the government may COMPEL the countries mining companies to sell equity to black empowerment groups. A director of the appropriate South African agency told a newspaper that unless miners voluntarily allow greater participation, the law would be changed. And I would bet dollars to donuts that such new equity participation by the black empowerment groups would not occur at "market prices", thus diluting the value for all present stockholders. It is my opinion that the trend is set and that one day, total production from the South African mines will be sharply humbled from current levels. I only have one South African play out of a 25 stock PM portfolio.: Annoraq, PGM exploration. Not to be confused with Africa itself however with six names.

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