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

To: goldsheet who wrote (62722)	1/16/2001 4:47:27 PM
From: Claude Cormier	Respond to of 116767

<Reserves are supposed to be economic resources (i.e. do not require a price rise)Many miners, however, still have reserves calculated at $300 or 325. > Exact... Barrick had 60M in proven probable at US$325 as of 31/12/99. That is why I said that prices must rise for these reserves to come on the market. Barrick will likely maintained the US$325 threshold for a few more years as most of its production is hedged above that. BTW, I will search, but do you have the exact definition of what is an economic reserve ? I think that it is a reserve where gold can be produce at a profit. But there is a big differnce between 2% profit and 20% profit. C