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

To: IngotWeTrust who wrote (49006)	2/14/2000 1:57:00 PM
From: lorne	Respond to of 116762

Hi 49r. In between nuggets how bout a question. Gwalia forecasts growth in gold, tantalum output Tuesday 15 February 2000 " The executive chairman, Mr Peter Lalor, said gold production for the six months was 201,760ounces. The average sale price was $650.16 an ounce, with cash costs of $346.80 an ounce. " theage.com.au On occasion we hear on some news source " Gold price down on Austrailian producers selling " . I assume that all production costs are in Aus.$ and folks over there live in terms of their own currency and 650.00 $/oz is not a bad price so why should they not sell. So it seems it would not be in the best interest of Aus. and other non US producers to have the POG go higher at the expense of a lower US$. Is this correct ?? I have some difficulty seeing all of this from an other countries point of view. Also do you know if Hedges in these countries are in US$ . Thanks Lorne