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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Haim R. Branisteanu who wrote (64770)3/25/2007 1:18:10 PM
From: TimbaBear  Read Replies (1) of 116555
 
And many were thinking that only confetti money is printed endlessly - now may be gold finds are, ... may be "endlessly" …. well not exactly like confetti money <GG>

I think my gold positions are quite safe, even with this discovery. According to the news article you posted, the production won't be ramping up to deliver very much additional supply each year.....far less than the percentage increase in paper money anyway.

From the article:
Now that doesn’t come out all in one year. With current techniques we can’t push production up much past about $250 million [LE 1.4 billion] worth of gold a year. Basically, you just can’t get enough trucks in the hole. So this mine alone will be going for the next 25 or 30 years.

Let's see $250 million divided by $600/oz is about 400,000 ounces a year.....and that only after production is able to commence. In the overall scheme of gold supply and demand, not a very big addition.

But an interesting read nonetheless.
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