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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: jrhana who wrote (1056)11/23/2003 4:33:39 PM
From: Wade  Read Replies (2) of 48092
 
I understand all of the opinions toward S. A. gold mining companies. If we look at that nation's GDP and industrial foundation, mineral mining is their #1 industry. Without it, that country won't have the current economy. If I look around the mining companies in the poor countries, I found all of them paying very low salaries to their workers. Did we sanction Chinese goods if we look at Chinese low pay labor forces or their labor camps? Did we pick on Wal Mart? What are the particular reasons we only pick S. A. mining companies as the target? Do we have different standards toward different countries? I think so. This is one of the big reasons we are in trouble with so many foreign countries, imho.

We all know that Rand's appreciation vs. Dollar impacts the earning potentials to those S. A. golds, however, you should also notice that their assets values appreciate significantly as Rand goes up. I see under valued investment opportunity in front of our eyes. This is the reason why I put some of my $ in ASA. Good investing.

BTW, Do we think a US mining company can do better for those S. A. mining workers? What will our view be if NEM bought GFI or other golds, for example?

Sincerely,
Wade
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