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

To: Crimson Ghost who wrote (57265)	8/13/2000 4:57:22 PM
From: Enigma	Read Replies (1) \| Respond to of 116944

<<Even an industry as poorly managed asa this one will not forever produce gold at little or no profit to its shareholders just so the bullion banks can continue raking in enormous returns>> Clearly nonsense - typical of one who feeds off the conspiracy diet served up by some on this thread? Far easier than actually thinking for oneself? The bullion banks are clients of the producers - but it doesn't fit with the conspiracy theorists who insist that the converse is true. There have been exceptions - Cambior and Ashanti -but even then it was management which was ultinmately resposnsible for ruining these companies.

To: Crimson Ghost who wrote (57265)	8/13/2000 5:25:38 PM
From: Square_Dealings	Read Replies (1) \| Respond to of 116944

George Cole: One way the gold industry could find out if there really is any demand out there would be to shut down production significantly or completely. Then the world could figure out if it really needs gold (which I think some bashers will be surprised). The situation reminds me a lot of the oil industry two years ago. Consolidation in the gold industry is a positive step in gaining control of the future supply of gold. Just as the oil industry figured out how to be profitable at $15/barrel oil prior to the ramp in price, the gold miners have also figured out how to produce gold at current severely depressed prices. Who's brilliant idea was it to lease gold for 1% a year anyway? A person could control a lot of gold at that ridiculous rate. I might just see if I can borrow some. That beats margin rates at my broker by a long shot. M.

To: Crimson Ghost who wrote (57265)	8/13/2000 10:58:24 PM
From: goldsheet	Read Replies (1) \| Respond to of 116944

> If gold goes down to the average cost of production (much less below it), much of the world mining industry will shut down. Theoretically, if gold hit the average full cost of production, then 50% of the gold mining production should shut down, as you suggest. In reality, however, at least 20% of gold comes from copper mines and would continue to come on the market regardless of the gold price. Also, companies would continue to mine as long as cash flow is positive, which takes us down to an average cash cost of under $200/ounce. I am not suggesting or predicting any of these events. I still think gold production will rise in the 2003/2004 timeframe.