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Gold/Mining/Energy : Gold Price Monitor
GDXJ 97.99+0.3%4:00 PM EST
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To: long-gone who wrote (72297)6/25/2001 10:29:12 AM
From: Crimson Ghost  Read Replies (1) of 116753
 
I have no comment on this particular merger. But I will say that that gold mining industry needs to consolidate in a big way. The fact that so many miners are financially weak makes it easy for the bullion banks to force them to hedge to obtain financing.

A gold mining industry dominated by a few big players would find it much easier to cut production sharply until prices improve instead of hedging reserves at firesale prices.
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