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

To: sea_urchin who wrote (7209)	8/18/1999 2:08:00 PM
From: goldsheet	Read Replies (1) \| Respond to of 81205

> Thanks for showing us those beautiful charts and, of course, > my congratulations on a magnificent bit of work (as usual!) You're welcome, I am trying to get all of the numbers together and incorporate them in my site in a logical/useful manner. > production has in fact doubled since the mid-seventies. The primary reason I posted the data was to present an historical perspective. The folks that complain about central banks selling 415mt (13moz) don't realize that production is more than 1300mt (40moz) higher annually than it was in the 1970s. I also think it is healthy the industry has diversified worldwide, RSA is no longer 2/3's. The US and Australia were under 1 million ounces (second chart down), and no one had heard of Papua New Guinea, Ghana, and Indonesia (third chart). As for South America (fourth chart), gold from Brazil has dropped, but look at what happened in Peru and Chile ! Barrick's Pierina Mine in Peru came online in November 1998 and doesn't even show up in my charts. It will produce almost 1 million ounces at a cash cost of $US45 (lowest cost mine in world), moving Peru's production from 2.5moz to 3.5moz and I will start comparing it to Canada at 5.0 moz. As for RSA, I'm afraid the miners might negotiate themselves out of employment. It is critical for RSA to diversify its economy. I hope there isn't another period of political and economic (currency) instability. Bob Johnson goldsheet.simplenet.com goldsheet.simplenet.com