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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: goldsheet who wrote (88336)	7/26/2002 11:13:19 AM
From: IngotWeTrust	Read Replies (1) of 116785

Bob defines: Reserves are resources that are economic at current gold prices. And that is where the rub is. Not only are reserves moved in and out of resource vs reserves category, the definition of "what is economic to mine" also is NOT STATIC. The economics, aka what are or "should be" the profit margins' calcs, ....these always are getting tweaked depending upon what picture a CEO wants to present to the shareholder, to their competitiors and to the governments to whom they owe royalties and/or taxes. Worldcom has NOTHING over the goldmining companies' "standard accounting practices" interps. Wonder if any of the "little" guys will be signing off on their Aug 14 deadline type corporate accountability statements...as the world knows the big 3 or 4 or 5 or however low you want to place the bar...they are NOT subject to American accounting standards, altho' they have to gigger their accounting statements to appear to conform simply because they have trading listings on the NY exchange... gold_tutor

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