Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: isopatch who wrote (20677)	10/26/2002 4:53:50 AM
From: TheBusDriver	Read Replies (2) of 36161

<<Did Goldcorp "almost" buy Placer Dome?>> Kinda looks that way. Wonder why it fell apart? I liked this bit: "McEwen admitted that the second quarter’s purchase of gold bullion at an average price of $323 per ounce was a test of the physical market. “I was curious to see what the breadth of the market was,” he said, adding that he had inquired of a bullion bank how long it would take to acquire 20 tonnes of gold. The answer was two days, so he put in an order for just 6% of that tonnage and ended up waiting two weeks for delivery and suffering a 50% increase in the spread." No problem with liquidity, eh? Wayne

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