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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: PaulM who wrote (8648)	3/21/1998 8:41:00 PM
From: goldsnow	Read Replies (2) of 116759

Major gold companies mull global millennium coin 04:34 p.m Mar 21, 1998 Eastern LONDON, March 21 (Reuters) - The world's biggest gold mining companies are planning to produce a millennium coin that could absorb more than 1,000 tonnes of gold, Britain's Sunday Telegraph newspaper said. The project is being led by Canada's Barrick Gold but would be coordinated from the London headquarters of Swiss Bank Corporation, the Telegraph said. The companies hope that the planned coin would mop up surplus gold supplies and lift the gold market out of the doldrums. The Telegraph said the prices for different-sized coins would be linked to the prevailing gold price. The most popular size was expected to be the one-ounce coin, which at current values would cost around 200 pounds ($334). Other companies said to be involved in the project include Anglo American Corp of South Africa, Newmont and Placer Dome . ($ - 0.599 British Pounds) ^REUTERS@

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