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

To: Enigma who wrote (48531)	2/8/2000 9:30:00 AM
From: Rarebird	Read Replies (3) \| Respond to of 116760

I just listened to the Barrick CEO. I thought he came across bullish on Gold. He explicitly stated that ABX reduced their hedge position and bought calls because he thought that the POG would firm. He said demand was very strong. Gold consumption has increased 3.7% per year for the past 75 years. He handled himself well and was quite eloquent.

To: Enigma who wrote (48531)	2/8/2000 12:22:00 PM
From: goldsheet	Read Replies (3) \| Respond to of 116760

> The big are getting bigger - very much bigger. Last time I did an analysis, the Top 10 miners accounted for about 35% of world production, it looks like 40% now. The industry continues to slowly consolidate. Harmony should produce 2.2moz in 2000 and move into the list. Company Production Percent Total ------------------------------------------------------ Anglogold 6900 8.4% Newmont Mining 4175 5.1% 13.5% Gold Fields Limited 4000 4.9% 18.4% Barrick Gold 3660 4.5% 22.8% Placer Dome 3150 3.8% 26.7% Rio Tinto plc 3105 3.8% 30.5% Homestake 2518 3.1% 33.5% Freeport C&G 2440 3.0% 36.5% Normandy Mining 1745 2.1% 38.7% Ashanti 1562 1.9% 40.6% ------------------------------------------------------ 82000 One thing I always point out is two of the top ten gold producers are copper companies. Freeport does not even consider gold as revenue, they credit it to copper costs as a negative expense, then report copper production costs at about 11 cents per pound. 5.5 million ounces from folks who are getting gold out of their way to get at the copper ;