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Gold/Mining/Energy : Gold Price Monitor

GDXJ 126.30

+3.6%

Jan 12 4:00 PM EST

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To: Bucky Katt who wrote (2453)	10/25/1997 10:35:00 AM
From: Tommaso	Read Replies (3) of 116853

The analogy with a patented product does not hold. If gold mining were regulated by an international commission to cause an artifical shortage, then the price could be controlled. Patents and copyrights produce artifical constraints for a limited time to repay inventors and authors. Once Windows 95 is in the public domain it's worthless. Gold mining companies the world over are free to produce as much as they can, and many of them can do it cheaply. Gold is just another element in the earth's crust. Now if a world government arose and seized all the gold mines in the world and limited production, it would be different. Prior to heap-leach mining, inefficient methods kept supply limited. I have been in the Homestake Mine and seen their somewhat antiquated way of processing slurry. I have studied annual reports of companies that became prominent in the 1970s and 1980s, with their leach pads. What will really cut the price of gold is a process to remove it from seawater. An effort on the scale of the Manhattan Project could probably do this and cut the cost to $50 an ounce.

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