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Gold/Mining/Energy : Gold Price Monitor
GDXJ 109.28+3.8%Nov 28 4:00 PM EST
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To: long-gone who wrote (94280)3/28/2003 12:24:47 PM
From: goldsheet  Read Replies (2) of 116790
 
Ghosts around the gold price may have gone away, BUT the strong rand is killing margins on South Africa mines. Time for Anglogold to continue to diversify outside RSA and make another takeover bid.

The industry remains way too fragmented (6moz for AU is only 7%) that producers have no price control (aka ability to manipulate prices upward). It still takes 15 gold miners to produce 50% of world's gold and I think we need to consolidate to the point where Top 5 produce 50%. This means 4 or 5 companies producing over 10moz. We need more big acquisitions.
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