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Gold/Mining/Energy : Silver prices

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To: TheBusDriver who wrote (3764)	9/6/2001 10:01:21 AM
From: Claude Cormier	Read Replies (2) of 8010

<Is it possible some will go broke or cut back production, thereby also reducing the amount of silver coming to the market?> Sure. I think it is already happening. Pasminco in Australia is in big trouble. Cominco, although it is not in trouble, has decided to shut down or reduce production at a smelter. If I remember well, they decided it was more profitable selling the electricity used by the smelter rather than produciing base metals cathodes. We gonna see more of this as the recession deepens and bas metal prices move lower. The big question is how big a recession ? I read last week a statement that said that the current pace of contraction is even worse than in 1930. The proposed takeover of Compaq by HP which may put 15,000 on the unemployment list is typical of what is shaping up. SIncerely, I hope for a reversal soon... but honestly, I don't know what can be done.

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