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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: Richard L. Williams who wrote (21757)	10/16/1998 11:54:00 AM
From: E. Charters	Read Replies (2) of 116786

Wartime gold was hard to mine in Canada due to the manpower shortage although it was considered a strategic metal. They had the Emergency Gold Mining Act during the war and although few gold mines were started some were kept limping along. The price was calculated on cost of production and some mines say close to 40 dollars. The Leitch got 38.50 an ounce I believe. Only Kerr Addison and Campbell Red LAke didn't need the act's premium price. Copper by contrast was rushed into production. Copper was hard to find and Canadian production was at a premium. Mines like the Kam Kotia in Timmins were prioritized and permitted quickly. One of the big problems was getting electric pumps as the best high pressure ones for pumping from shaft bottoms came from Germany. If something pumped water then it was on a convoy. EC<:-}

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