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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: lorne who wrote (35337)	6/14/1999 4:46:00 PM
From: John Hunt	Read Replies (1) \| Respond to of 116753

Letter From Minister of Natural Resources Canada Hi Lorne, Did you ever get an answer to your e-mail to the Prime Minister? ... I finally got the following hard copy reply to my letter which was directed to the Minister of Natural Resources via the Prime Minister's site. Not sure if any of this helps, but I least I got my 2 cents worth in, as well a threat to take our votes elsewhere if they proceed. :-)) John ***** Dear Mr. Hunt: The Prime Minister has sent me a copy of your e-mail message dated March 25, 1999, concerning the possibility of selling up to 10 million ounces of the gold reserves of the International Monetary Fund (IMF), to partially finance its Enhanced Structural Adjustment Facility Program and its participation in the Heavily Indebted Poor Countries Initiative. I appreciated receiving your views. Like you, I am aware of the challenges that are currently being faced by Canadian gold mining companies, their workers, investors, and the communities in which they operate. In addition, as you pointed out, a number of the countries that would benefit from this debt relief are themselves gold producers. For these and other reasons, it is important that, should the IMF decide to sell part of the gold reserves, these sales not be done in a way that would depress the price of gold. I have directed Natural Resources Canada to work with Finance Canada to review the sales strategy for its potential impact on gold prices if a decision is made to sell gold. I have also taken the liberty of sending a copy of your messages to the Honourable Paul Martin, Minister of Finance, so that he is aware of your concerns. Again, thanks for writing to convey your views. Yours sincerely, Ralph Goodale, Minister of Natural Resources Canada cc. The Honourable Paul Martin, P.C. M.P. Minister of Finance