Echo Bay Mines, anyone (anyone) ((anyone))? Message Board

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Gold/Mining/Energy : Echo Bay Mines, anyone (anyone) ((anyone))?

ECO 35.56

+4.0%

Oct 31 9:30 AM EST

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To: Walt who wrote (234)	1/6/1998 8:18:00 PM
From: helkel	Read Replies (1) of 300

I read the press release on etrade (sorry i don't know how to post. i was pleasantly surprised at it. it makes a lot of sense, but we will have to see what the street thinks about it. hopefully it wil be positively received there as well. we'll know in about 13 hours or so quick summary... eco is suspending ops at its 2 most expensive gold producing mines until the pog recovers. also laying off 40%% of admin staff in denver (leaves 37 in the office) . also reducing exploration projects to save $18 mill until pog is higher. overall, thier cost of gold will drop to $235-245 per oz from current $275-85. also mentions their forward sale agreements of $335 oz for their 98 gold productioon. also talks about their inventories and values . hk

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