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)	8/13/2001 9:19:24 AM
From: ItsAllCyclical	Read Replies (3) of 95453

>> The reality is $180 an ounce. << You're confusing finding costs with net costs. Many E&P's tout their costs in the $6-8 range, but we all know they're not really profitable until $15+ oil. KGC for example has finding costs on average of $180-210 at many of their mines, but they're not really profitable until gold goes over $290. If KGC had $100 of profit at these levels it would be a $5+ stock (look back when gold was merely $400). Send in your thoughts to the Economist and maybe we can get the magnazine cover that gold bugs are looking for: "Economist declares gold is dead - Tommaso uncovers the ugly truth that miners are hiding massive profits at $270 gold.".

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