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: Ken Benes who wrote (43522)	10/21/1999 6:18:00 PM
From: Rarebird	Read Replies (1) \| Respond to of 117272

LIMA, Oct 21 (Reuters) - Peru's Minera Yanacocha S.A., Latin America's largest gold mine, produced 160,000 ounces in September, its highest monthly output and up 17.6 percent compared with September 1998, a firm official said Thursday. "Our output plans are being met to reach the year's target of 1.65 million ounces," Carlos Galvez, assistant general manager at Buenaventura <BVN.N> <BUEt.LM>, a leading local miner which holds a minority stake in Yanacocha, told Reuters. Yanacocha. a joint venture run by United States' Newmont Mining Corp <NEM.N>, has seen output rise steadily since operations started in 1993, helping the value of national gold exports overtake foreign copper sales for the first time last year. Buenaventura reported Thursday a rise in third quarter profits to 51.3 million soles ($14.8 million), almost double its result in the same period last year due largely to increased output at Yanacocha. Yanacocha produces gold through heap-leaching operations at its open-pit mines in the highland Cajamarca area 375 miles (600 km) north of Lima.

To: Ken Benes who wrote (43522)	10/21/1999 7:44:00 PM
From: Enigma	Read Replies (1) \| Respond to of 117272

On the contrary - the CBs aren't stupid - they don't want the POG to fall any more than you would like the price of your house to fall - I can see that simple analogies are required here! However they were responsible for the POG falling through being over zealous with their leasing programmes - to the extent that they realised that they had to limit this and also to limit sales. Their intention can never have been to reduce the POG - but to receive some interest on a non-interest bearing asset.

To: Ken Benes who wrote (43522)	10/21/1999 8:16:00 PM
From: long-gone	Respond to of 117272

<<confederate producers is almost universally accepted>> And far from all the producers were invited to the "party". There are some out there fighting every day for survival. Some do this with the lightest of possible production, the best possible mix of low cost production, the slightest of possible hedges, & smartest takeover & cash loan packages - considering the S&P destruction of credit rating based on hedge level. In the end, I wonder if the three or four "good guys" can survive this level of corruption, & more over, I wonder how much longer the corruption of the gold market will manage to wash out the silver market also. Just today they were talking on FOX news about the "retirement" of Greenspan. IMHO as he has allowed and sanctioned this greatest of all free market corruption, his "retirement" should be behind bars!