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

To: Enigma who wrote (35637)	6/21/1999 1:57:00 PM
From: Ken Benes	Read Replies (1) \| Respond to of 116788

Double D: Give me one good reason, why the producers cannot or will not annnounce that they are ready to purchase the entire amount of the BOE planned sale of 415 tonnes of gold at the first auction for the current spot price. Instead of closing existing non economic mines, they could temporarily mothball them for the period it would take to produce 415 tonnes at the current price. By my calculations, this would take less than 3 months. Why does this not happen. Any prudent business person would have to explore this option. Boeing announced the purchase of Airbus planes from Singapre in order to close a sale for their higher priced 777 models. To remain in business takes more than just digging holes and not looking beyond the perimeter of the excavation. If nothing else, the producers with the exception of one or two, remain in the period when the world was on the gold standard. Unless of course, if they are being leaned on to play the game with the current set of rules. Ken