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Gold/Mining/Energy : FSCNY
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To: StaggerLee who wrote (27)11/19/1997 4:06:00 PM
From: Bilow  Read Replies (1) of 52
 
Among the gold producers, the SAs are relatively high cost
producers, but, their expenses are in a local currency. So
what you really have to look at is what sort of other export
from SA competes with gold for foreign currency. For this
reason, I think they are better bets than the current market
price even in a low gold price environment.

The "bad" news about SA (i.e. the end of Apartheid (sp)) has
been out for a long time now. No nationalizations yet. Things
look pretty good.

Note that closed mines are sometimes expensive to reopen.
That's if they aren't maintained. I see the POG as going up
over the next few years, so I hope they maintain their holes.

-- Carl
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