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Gold/Mining/Energy : Pangea Goldfields T.PGD -- Ignore unavailable to you. Want to Upgrade?

To: terryswift who wrote (1122)	7/3/2000 2:14:33 PM
From: russwinter	Respond to of 1178

If the shabby approach you describe is how ABX approaches the juniors (and I suspect it, but I'm not 100% sure)it is what economists call the "tragedy of the commons". Its meaning is taken from the middle age practice of overgrazing pasture lands for the short term gain but an enormous long term loss. In this context it means screw everybody so badly on deals that it kills the incentive for juniors to explore at all. I guess that just leaves ABX and the other majors to get out and conduct ALL their own grassroots and development exploration. Why would anyone else bother? Smart majors would do the opposite: cultivate the junior sector and reward them generously for results, not try to nickel and dime them to death (literally).

To: terryswift who wrote (1122)	7/3/2000 2:49:47 PM
From: Enigma	Respond to of 1178

I fear you're right - and well informed. I wondered where you had got to?