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

To: Ken Benes who wrote (35408)	6/15/1999 5:17:00 PM
From: William Puget	Respond to of 116762

Right on!!!!! NOte that Kinross announced the shutdown of a mine in Ontario. There will be more behind this one. This reduces supply doesn't it? Meaning less around to buy even with the CB sales. WP

To: Ken Benes who wrote (35408)	6/15/1999 8:01:00 PM
From: long-gone	Read Replies (1) \| Respond to of 116762

<<Well, instead of mining uneconomic gold and causing the discount of reserves still in the ground, the producers should get together and announce that they are halting production >> Ken, If the producers should "get together" as you suggest, a great many laws would be broken. Here' the next best thing,might want to check this out: exchange2000.com Next, you should take a one share position in each of the producers you find at fault, so, you can tell them what you think.

To: Ken Benes who wrote (35408)	6/16/1999 5:51:00 AM
From: John Hunt	Respond to of 116762

Re John: You want to see the price of gold move. Hi Ken, Yes, it would be nice to have a significan up move ... However, as I indicated before, only about 15% of our portfolio is in gold/silver and oil stocks, rest is in cash or equivalent ... Not on margin, so I can wait as long as it takes. I agree with you that concerted producer action would get results, but I don't believe it will happen this time around. IMHO, the bear market in gold will only be over when the 'large' shorts cover and establish long positions. Looking at long-term on-balance volume on many precious metal stocks I believe this process is happening but I have no idea how long it will take. As I do not have access to obv charts on the futures, I can only guess that it also happening there also. Because of the risk of a major market decline, I am only prepared to invest in stocks that are 60-80% off their 2 year highs at this time ... Interestingly I noticed that some of the better tech stocks are now beginning to approach these levels. Meanwhile, I have a lot of time on my hands this summer to work around the house and catch a few rays. :-)) John