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Gold/Mining/Energy : Precious and Base Metal Investing

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To: loantech who wrote (15948)	8/7/2003 3:19:01 PM
From: Eva	Read Replies (2) of 39344

Some more on BGO from Trotsky: I think he is right! Date: Thu Aug 07 2003 14:47 trotsky (Apollo@BGO) ID#377387: Copyright © 2002 trotsky/Kitco Inc. All rights reserved the production costs at the Petrex mines are set to fall dramatically once the ramp-up period is finished. iow, this quarter's costs are a technicality. of course costs will be higher than originally planned due to the strong Rand...but Bema bought Rand-denominated put options, so should be able to sit out the strong Rand period. the true potential of those mines can only be judged next quarter, when we get the cost data post plant modification and with production fully ramped. Julietta margins have been excellent again....and Kupol's margins will probably be even better once it's developed. and as i've said before, the Petrex mines represent the leverage part of the BGO projects. currently, margins will be slim, even after the ramp-up. but any significant move in the Rand PoG, and you'll see that stock REALLY run.

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