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Gold/Mining/Energy : Tyhee (Toronto Stock Exchange)
TDC 28.26-0.8%Nov 26 4:00 PM EST
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To: d:oug who wrote (235)5/13/2002 9:49:27 AM
From: Dave R. Webb  Read Replies (3) of 695
 
I think what you're seeing in that article, is a reporter expressing a company's view that "you go where the gold is" if you want to find more. I agree.

This new "gold rush" is going to cause a lot of companies to suddenly become gold companies. This is good. They will either look for, or buy their positions. There are still some good properties available, but the price is rising on them.

A typical exploration play, if successful will take 7 to 10 years from discovery to production, longer in some jurisdictions. Any real or perceived shortage of gold is not going to be resolved in the short term by exploration. The exception is exploration in and around producing mines, or past producers. Recent closures had been brought about by depletion of the existing reserves under near term economic situations. It is going to take a very significant boost in the price of gold to cause these old mines to reopen. Mines that closed a while ago, under very different circumstances are another exception.

This is why TDC chose a significant past producer to anchor our gold project. Its got the gold, the grade, the history and the infrastructure. Add an adjacent mine to the mix, and its a great project. Doug, this is where the out of Mongolia funds will go.

Dave
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