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Gold/Mining/Energy : ARP - V Argentina Gold
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To: tanoose who wrote (2435)1/31/1999 5:48:00 PM
From: james flannigan  Read Replies (1) of 3282
 
Frank,your thinking forgot one most important fact.ABX burnes about 4.4 million oz of reserves per year,out of a total of 50m oz.To replace reserves they can not buy 200,000 0z deposits to maintaine the book value of the company.It is not cost efective.Last year they had to shut down their high cost mines in this low gold price erea.ABX NEM PD and the like always pay very close attention when a world class deposit is found,if this is what we truly have.To keep up reserves they have to be bought in a low price or high POG.Be assured if Ludins are correct in their assement of the deposit being "world class" it will not sit for long before one of the big guys takes it out,simple economics points this out,there is a shortage of world class deposits.The forces of supply and demand rule in the end.
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