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

To: Alex who wrote (52669)	5/13/2000 6:16:00 PM
From: goldsheet	Read Replies (3) \| Respond to of 116753

> SA production is down 6.1% year over year So what ? It is a continuation of a well known 30 year trend. Now if RSA was still producing 30moz out of a world total of 40moz, 6% would get my attention. 6% of 14moz in a 83moz world doesn't concern me, especially when it is easily being replaced. > but the amount of gold available is limited. Especially gold that can be mined profitably at todays prices. Yes, gold is limited. I can identify about 1 billion ounces of proven and probable reserves, mostly calculated at $325-250 per ounce. At today's prices, at least 700 million ounces is still profitable. Most important, however, is the amazing ability of miners to deal with the current environment. Gold at $275 today is just about where it was one year ago, yet many miners have dropped their cash cost $25-35 per ounce. They are generating more cash flow and profits today than a year ago, despite the low price. It seems gold investors are the only ones left that have not been able to accept this new reality.