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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (7090)	8/10/1999 11:16:00 PM
From: sea_urchin	Read Replies (1) \| Respond to of 82162

Bob : I also noticed that the prices of many SAf gold shares were high in relation to the gold price but I came to a different conclusion from you. The mines have been changing their economic profile by getting rid of high cost areas, retrenchment etc so that as POG came down they still remained profitable, possibly even increased profitability. Now, in anticipation of an increase in POG, they look forward to profits which were even greater than they were before. According to this argument therefore, the upward re-rating of certain gold share prices in relation to the present POG is justified. I presume a similar approach would apply to the North American mines in the XAU, although I'm not sure.