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Gold/Mining/Energy : Barrick Gold (ABX)

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To: Elizabeth Andrews who wrote (3311)	1/17/2003 9:24:04 AM
From: Enigma	Read Replies (1) of 3558

Liz - it's curious that Goldcorp owns the Cochenour mine and not Placer which is next door with the great Campbell Red Lake Mine. When I was in the mining business in the 70s we managed Cochenour and consolidated the shares and it became Wilanour. We dewatered the mine, explored it and even bought a winch and built workers houses - hiring workers away from Campbell in the process. All of this while gold was soaring to over $800. But our drilling was flawed, the reserves didn't pan out and the POG collapsed and that was that. It was a royal cock up in fact. And some of our people went on to discover Goldstrike! And earned the title of 'mining geniuses'! I left when all systems appeared to be 'GO' and took my first real adverse hit in the market. There was a lesson in that - but if I'd still been there I would have been stuck as an 'Insider' so it was a lose lose situation either way. But to my mind there is gold there and the logical owner would be Campbell because they could drift over at depth.

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