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

To: Crimson Ghost who wrote (7656)	9/5/1999 10:08:00 AM
From: Enigma	Read Replies (1) \| Respond to of 81237

It's a sure bet that the major producers have met and discussed cutbacks - and have decided against it - maybe because of concerns over price fixing - or because, as I said earlier, there isn't enough commonality of interest. There would be nothing worse than for a producer to cut back in a major way, or to cease hedging, only to find that others were not following suit. Also the currency devaluations in S.A., Australia, Canada, and elsewhere have mean that gold is still quite profitable to mine in these countries. If we were living in a world where the $US was the only currency maybe over half the world's mines would be closed by now. WE seem to be at a bottom now - and maybe the reception of the next B of E auction will be a spur for a real rally.

To: Crimson Ghost who wrote (7656)	9/5/1999 10:21:00 AM
From: sea_urchin	Read Replies (2) \| Respond to of 81237

George : I had the figures which I have now lost. I know Anglogold is the largest miner and produces about as much as Barrick and Goldfields together. Bob will certainly have the figures at his finger-tips. I agree with you about the collective need of the gold producers to "control" their supplies to market more than they do. That has, in fact, been my argument for some time. Unfortunately, if there was collusion then that would really be called "conspiracy" although why it should be particularly so in gold mining rather than in oil, diamonds or aluminium etc is beyond me.