Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: lorne who wrote (36866)	7/8/1999 6:56:00 PM
From: John Hunt	Read Replies (1) \| Respond to of 116790

Canada Barrick still aims to shut Chile gold mines << Canada's Barrick Gold Corp. (Toronto:ABX.TO - news) (NYSE:ABX - news), the second largest gold producer in North America, still plans to close its El Indio and Tambo gold mines in northern Chile, a company official said Thursday. ''The decision to close El Indio has not changed,'' Sergio Jarpa, vice president of operations at Barrick Chile, told reporters. ''What is under discussion is when to close El Indio. We have managed to delay the closure of El Indio until at least the end of 2000.'' ''Tambo will close in the first quarter of next year. This is the plan that we have drawn up based on the exploration programs that have be quite successful,'' Jarpa said after a meeting at the National Mining Society (Sonami) lobby group. He added that Tambo's reserves are drying up. Since 1997, when Barrick first announced its intentions to close the mines, the company has pushed back the closure dates as it explored around the area and enacted a program to reduce costs. The mines each posted cash costs under $200 per ounce in the first semester, Jarpa said. ''We are keeping our forecast for the year at that level,'' he said ... more ... >> biz.yahoo.com Now why would they close these mines if they can hedge the output so wonderfully? ***** Hi Lorne, Thanks ... I already sent DD a couple of PM's on the comet and old Nosty. I think your best bet is to hollow out the hay pile, climb in, have someone put the double tarps on and chain down the sucker ... If it is all that waterproof, you should be ok when the 1000 foot high wave hits. < vbg > John

To: lorne who wrote (36866)	7/9/1999 6:05:00 PM
From: John Hunt	Read Replies (2) \| Respond to of 116790

Kaplan's Corner Tonight On The XAU Question: Why has the XAU significantly outperformed other gold indices since March 1999? Answer: Most gold indices contain only shares of gold mining companies (as they arguably should). However, the XAU contains a 12.2% weighting of Freeport McMoran Copper and Gold (FCX), which has a share price that correlates much more closely with copper, their main product. Since copper prices have surged in recent weeks, FCX has seen a doubling of its stock price, which has therefore had a substantial impact on the XAU. Like oil, copper has often served as a leading indicator for gold, which probably explains why the XAU is an excellent, albeit imperfect, prognosticator for future gold prices. Once gold begins to outperform copper, the XAU will return to a period of underperformance. goldminingoutlook.com