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Gold/Mining/Energy : Gold Price Monitor

GDXJ 97.44

-1.2%

Nov 14 4:00 PM EST

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To: Enigma who wrote (23915)	12/7/1998 1:15:00 AM
From: Zardoz	Read Replies (5) of 116762

Enigma: "Are you aware that PDG has recently doubled it's gold reserves through its S. African acquisition at an in ground price of $8/ounce? I don't think the market has woken up to this yet. E" Are you aware that Placer Domes new gold acquisitions put more downward pressure on the price of gold since production cost will be lower? Something around $180/ounce. Do we consider this in our analysis of the future price of gold? So more of the XAU stocks will be hit, at the cost of PDG growing share in the XAU? What if another producer hedger get's a cut of the S African area; won't this add to further POG pressure? No wonder the CB want to sell.

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