I've had two year flat periods before, and two year downers, but my lifetime investment returns have been stellar. I'm still confident that this junior PM play will in time (two/three months to two/three years time horizon) work. Here's another G,B& U that Doug says looks like the same post. A reader such as yourself can easily see the only similarities are the trouble these companies are in. But then, you are obviously drug and psychosis free when you come on line.
Newcrest: 1.0 million production. Complex and enormous hedge book of 7 million, in a negative 569 m. (Aussie) mark to market last quarter. $40 million exploration last year. Old reserve numbers from 6/30/00, no basis clearly stated. I'll admit confusion on Aussie reporting. Anybody know the story with them?
The Good:
Cadia Hill: 326K @ c.c 130, long life
Ridgeway, gearing up for 275K production late 2002. 12 year life.
The Bad and Ugly:
Boddington (discussed under NDY): 51k @ c.c 187, question is feasibility of underground expansion.
Gosowong (Indonesia): 275K @ c.c 95, nearly depleted.
New Celebration: 70K @ 181, depleted in 2003, sold to Hill 50
Telfer: 267K @ c.c 220, mining suspended,, high cost. 3 year reserve left, doing new feasibility and exploration. |
