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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.59

+2.2%

Dec 26 4:00 PM EST

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To: Al Cern who wrote (2778)	11/3/1997 8:46:00 PM
From: goldsnow	Read Replies (1) of 116833

This is a supply and demand issue:pure and simple. The rest of it including economy or political analysis are catalysts. Co after Co come-out with warning that they are cutting exploration or closing mines. It takes years to see results of exploration and many, many months to revive a closed mine. The latest warning is from BMG "Bayer said the company now expects to produce approximately 860,000 ounces of gold this year because of anticipated shortfalls, primarily at Holloway and San Cristobal. Bayer added that the company is continuing to evaluate all of its activities with the objective of lowering costs and expenses and that, among other things, as previously announced it is reducing its overall investment in exploration. He went on to say that the company is tightening its exploration focus and is placing its emphasis on high priority exploration projects." biz.yahoo.com

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