Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Tommaso who wrote (93601)	8/12/2001 10:37:56 PM
From: Frank Pembleton	Read Replies (2) of 95453

Tommaso, I like gold for the same reasons you like silver, only I have both in my portfolio. BTW: There is very little gold left at the price you are talking about, most mining companies are working to pay creditors, and they're not exploring new territory. Kinross said it produced 233,722 ounces of gold at a cash cost of $191 an ounce, explain to me why they lost 3 cents a share in their last quarter? What if Kinross shut the doors, do you think the price of gold would go down or up? Did I mention a 1500 ton per year supply shortage? The reason for this shortage is because the price is to low, believe me there wouldn't be a shortage at $2000 per ounce. There needs to be a higher price to bring supply up to demand. Do we need to talk about the gold carry trade? The currencies of countries like Turkey and Argentina? The over-valued U.S. currency? Tommaso, you're a smart guy and I suspect you're just playing devils advocate... Regards Frank P.

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