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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: tyc:> who wrote (62739)	1/5/2009 3:22:13 PM
From: hank2010	Read Replies (1) of 78426

"Profitable producers of metals (MINES), now or future, do not speculate on the future price of their products" I was not personally present for the presentations re forward sales of gold, at the PDAC in the 80's but the story is famous. Moe Taschereau, president of Placer Dome was first and opened with "At Placer Dome we are miners, not speculators, we do not sell gold forward!" Peter (??) president of Lac Minerals was next. He opened with "At Lac Minerals, we are miners, not speculators, so we sell gold forward so that we do not have to speculate on its selling price"

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