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Gold/Mining/Energy : Gold Price Monitor
GDXJ 120.00+2.0%Dec 22 4:00 PM EST
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To: Enigma who wrote (11950)5/23/1998 12:03:00 PM
From: William JH  Read Replies (2) of 116822
 
Thanks for answering my question about credit card defaults.

Another question. According to a summary from "Mining Engineering"
written by a man who works for a mineral economics consulting firm,
(posted on YAHOO ECO board, #635), the cost of production of gold by mining companies is greatly understated, perhaps as much as $100 per ounce.

This makes sense to me, since I can't find any E in the PE of gold mining stocks, even those who have sold forward at higher prices.

If the costs actually are much higher, wouldn't it be much better to own the physical gold, or futures contracts, than to buy the mining stocks?

Thanks and best regards,
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