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Gold/Mining/Energy : Newmont Mining(NEM) & Newmont Gold(NGC)

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To: ahhaha who wrote (235)	5/26/1999 3:30:00 AM
From: Zardoz	Read Replies (1) of 587

"Third world demand for copper will rise and third world ability to supply will not meet analyst's expectations. In a slow world economy this average disbalance would maybe translate into $.80 copper, but the marginal demand will keep a rising floor under the metal and it will be hard to get in quantity. This is the outcome of shut-in capacity and its dilapidation even as large mines are developed or come on stream. Few agree." And rightfully so, that they disagree. First, you assume that third world demand is going to increase... a bad fallacy at best. There is a large surplus of production that can be brought online from many sources such as AGE.TSE{AGNICO EAGLE MINES LTD}, S.TSE{SHERRITT INTL CORP} should price appreciate near $1. Where is this third world going to get debt financing for any massive projects that would demand any large amounts of copper? Certainly not from Euroland, Japan, or USA? I agree with: Ram Rao: "$1.20 copper does sound rather high to me, especially with several new monster low cost Chilean mines in the pipeline over the next few years." NEM would be best served by spinning copper production off.

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