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Strategies & Market Trends : Ride the Tiger with CD
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To: dara who wrote (19922)11/14/2004 3:22:15 PM
From: philv  Read Replies (1) of 313059
 
GLG: He didn't mention that they have mines coming on. For example, EL SAUZAL, from their recent news release:

"Preliminary milling operations began at El Sauzal in October, with successful completion of the 100-per-cent load test of the grinding circuit. Expected to achieve commercial production this month, El Sauzal will become the company's largest and lowest cost source of gold production. Ore mining is continuing in both the East and West pits with good correlation between actual results and the reserve model. El Sauzal remains on track to produce 35,000 ounces of gold by year-end. The mine is expected to produce approximately 170,000 ounces of gold in 2005, its first full year of operation."

It has other projects, eg. MARLIN in Guatamala which will be producing by year end 2005.

So, I don't think bringing up the figure of $10,000/oz without at least some qualification and comparison was fair.
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