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Gold/Mining/Energy : Silver prices
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To: The Vet who wrote (5629)8/13/2002 6:48:53 PM
From: Canuck Dave  Read Replies (1) of 8010
 
I heard that on their web cast.

Batty said he doesn't envisage it as a huge issue at this point. Their water needs are pretty modest in comparison to the reservoir's size. It does answer the question why BAY has been trading at a significant discount to the takeout price.

Beatty also said the Chinese probably dumped 100M ounces of silver last year and might have enough to keep dumping until the end of 2003. As head of the Silver Institute, he is trying to get them to stop dumping and promote silver jewelry to their own people. I think the three Gorges dam is a higher priority for them so don't hold your breath for silver prices for a while yet.

CD
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