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Strategies & Market Trends : Ride the Tiger with CD
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To: The Vet who wrote (20179)11/16/2004 10:45:44 AM
From: Condor  Read Replies (1) of 313100
 
Of the top 100 gold and silver miners how many can you pick out who have actually replaced or increased what they mined this year with additional new P&P reserves?

I have no idea. I don't follow gold and silver miners at all but your question implies that you do and that you know the answer to that question. I can only conclude that the base metal producers may fit my comments better.

The reserve issue is not being attended to by the vast majority of the big and mid sized miners.

I know that it is being attended to but the big producers are having trouble replacing successfully (economically). This of course is being reflected, in part, in new higher supply prices. A large company I worked for was having a hell of a time coming up with material to take them out to 15-18 years. They spent a sh*tload of money exploring and finally in desperation their plan was to deepen one of their existing mines to an orebody far beneath it. I couldn't believe it..it was a desperate hugely expensive solution to the provision of new ore. As it turns out, at the last minute they found another orebody at reasonable depth a few miles away and it would be good for 10 years or so. It is being built now.

Now VET....I can't remember why I started to tell this story. Oh well, back to eating my aluminum pot. <gg>

Cheers

C
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