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Gold/Mining/Energy : Gold Price Monitor

GDXJ 128.07

+0.7%

Jan 16 4:00 PM EST

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To: Tommaso who wrote (2480)	10/26/1997 9:13:00 AM
From: goldsnow	Read Replies (1) of 116892

Tommaso, for investment purpose a producer of any product is better be efficient, would'nt you agree? And that what is happening. Stock prices of expensive and "inexpensive" mines are already factored in their respective valuation and cost of production is no longer a major criteria. For exploration purpose the quality and reputation of the CEO and his team are the major criteria when looking at the juniors. For mining purpose only fenomenal projects would come into development at this stage and that means few. Let supply and demand to play out. This is no different than drop of AMAT (Applied Materials to $22 last year with subsequent metioric rise to $108) The lower the price of POG the better it is for selective juniors and more bullish for the industry. It is no different than more weak or unfortunate zebras are killed by lions the better it is for the herd.

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