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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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To: Wade who wrote (863)	9/17/2003 10:28:24 PM
From: Wade	Read Replies (1) of 48092

Newmont sees "substantial" gold price potential Reuters, 09.16.03, 11:27 PM ET By Mary Powers AREQUIPA, Peru, Sept 16 (Reuters) - Newmont Mining Corp sees a substantial possibility of higher gold prices but will continue to develop low-cost mines and cut debt to hedge against any future price fall, its chairman said on Tuesday. Wayne Murdy also said Newmont, the world's largest gold producer, expects to make some announcements next week on "exciting" capital investment projects in the pipeline. "We think the environment is very good for a strong gold price," Murdy told Reuters in an interview at a mining conference in this southern Peruvian city. Asked if he shared the view of Newmont President Pierre Lassonde that gold would hit $450 an ounce over the next year, Murdy said: "I don't predict prices but we feel the trend is that there's still substantial upward possibilities" for the price. Spot gold was trading at $373 an ounce at 0300 GMT on Wednesday.

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