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Gold/Mining/Energy : Gold and Silver Mining Stocks

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To: goldsheet who wrote (1186)	5/30/2001 6:28:44 PM
From: russwinter	Read Replies (1) of 4051

I'm going with high grading as a major part of this. In fact it may be taking it's toll, as I spotted that average grades in South Africa fell to 4.13 g in the first quarter from 4.42 g. in 2000. futuresource.com There are a couple other suspects in Aust. besides high grading. The corporate tax was reduced to 30% from 36%, so that may be a one shot deal (probably under total cost). Second, the depreciation in local currencies helps when you are hedged back into USD, and I don't think South Africans and Aussies can just count on that every year? Finally these are calendar 2000 figures, and don't completely reflect the full impact of higher energy costs.

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