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Gold/Mining/Energy : Gold Price Monitor
GDXJ 96.06-1.4%Nov 17 4:00 PM EST
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To: goldsheet who wrote (68033)4/21/2001 6:33:02 PM
From: baystock  Read Replies (1) of 116762
 
<The gold industry should be consolidated like base metals where 3-to-6 producers account for 50-to-75% of production.>

There is absolutely no similarity between the base metals and gold. I think consolidation in the gold mining industry is irrelevant as far as being a determinant to the price of gold. The mining companies produce 100 million oz of gold per year but the above ground supplies are of the order of 100,000 tons or 3.2 billion ounces. So if mining companies were to cut production by 20 or 30% it would be only a miniscule fraction of above ground inventories.

But there would be considerable benefits to individual mining companies if they can lower their costs by consolidating.

And how useful would your spreadsheet be if there were only 3-6 producers to track <g>.
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