Bema(Bgo) and Arizona Star Message Board

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Gold/Mining/Energy : Bema(Bgo) and Arizona Star

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To: Bill Murphy who wrote (9852)	4/7/1999 1:46:00 PM
From: Philip Choy	Read Replies (1) of 10482

Bill, POG is really under water right now. The lack of urgency of the senior gold producers is really amazing. Only you are doing something about it. Look at the price of crude, the price was in the same situation as POG short while ago. You know what they did, they sat together and decided to cut production. Price of crude shot up 30% to 40% in matter of days. The gold industry should learn something from this. The main reasons for the slide of gold price are the fear of increasing supply from the Central Bank, the shorts(borrowed gold sale) and the forward sales of the producers. The sale of the Central Bank is reported to be gradual and would happen years form now. The shortfall in the market demand is met by gold shorts(borrowing) and producer forward selling. I wonder what would happen if the gold producers stop their practice of forwarding selling and announce a cut in the annual output. They may be sacrifying their short term profit, but if POG recovers then every shares holders would be laughing to the bank. The CEO of the gold companies are working for the shareholders, are they not? Regards/

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