HI Roderick. One thing you should understand is that PDG (Placer Dome) bought into the Cerra Casale property via option, for "image" purposes. PDG is now able to walk around touting options on a property that contains up to 30 million ounces of gold and 7 billion lbs of copper. This, by its very nature, serves two purposes. One it adds to Placers "total reserves" even though they have not removed one ounce. The other is that it helps support their share price during "downtimes".
IF "MINE" has the goods, it will be irrelevant what is happening in the gold sector. Companies like Newmont, Placer, Barrick, Homestake, Kinross Broken Hill Properties, Rio Tinto Zinc etc. etc. plan for the future. The addition of significant reserves would boost their balance sheet and boost their "clout" position within the international gold/mining communities.
Munk at Barrick has an ego as big as all outdoors. He was willing to "work" the Indonesians and Indonesian Government to get his way with Bre-X. I was personally glad he "got" what he reaped, in the end, a black eye!!
Barrick and the other majors, will have "spies" out to find if their is any truth to GE, if so you can be assured they are already "greasing" the government, and if not..................
No, if its there........they will come......and come so fast....its rediculous!!! However.....if its not there.....then they will all say.........they were never there and.........new it was untrue from the start!!!
Its all about "face" saving it, and developing and promoting it!
the Chief |
