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Gold/Mining/Energy : Gold Price Monitor

GDXJ 108.90

+4.2%

Dec 9 4:00 PM EST

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To: russwinter who wrote (85364)	5/13/2002 3:13:44 PM
From: goldsheet	Read Replies (1) of 116804

>Also looking fairly obvious that production has rolled over: goldsheetlinks.com Not at all obvious to me. Especially since my table doesn't include countries like China and Russia where production was up 10% last year. Former CIS is coming on strong. Q1 production is down due to temporary adjustments by several firms, but will return to more normal levels for the rest of the year. GFMS thinks a new production record will be set in 2002, slightly higher than 2604mt in 2001, and I agree. Prediction of 30% production drops by 2010 are absurd. I would be surprised if we get down 10% (2340mt) at the low of the cycle, before improved prices in the 2005-2006 timeframe get the nearly 700moz in resources into the reserve category. I'm on record for 3000mt of gold production in 2010, up 15%, instead of down 30%. > pretty much going mainstream in the financial press I get most worried when the financial press eventually gets around to agreeing with my views. By then it is time to completely reevaluate my viewpoint and/or move on to another sector.

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