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Gold/Mining/Energy : GSS-Gold Star Resources
GSS 3.900+0.3%Jan 27 4:00 PM EST
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To: Roads End who wrote (188)6/27/2008 12:01:41 PM
From: X-Ray Man  Read Replies (1) of 200
 
Actually, I disagree. None of the mining companies or anyone else broadcast an expectation that the rates would go up 140% for the miners. The actual cost of production evidently went up less than 50%. Remember, the majority of power in Ghana is hydroelectric, so while impacted by oil prices, they are not proportional. I think the unexpected result was that the rates charged to miners was higher because the government wanted to have the external companies shoulder the overall increase. And that is what GSS said in their release.
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