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

To: Square_Dealings who wrote (63524)2/7/2001 10:36:21 PM
From: goldsheet  Read Replies (1) | Respond to of 116795
 
> Total gold output, which rose 31 percent in the quarter to 1.6 million ounces, will fall as mines in Nevada and California produce 400,000 ounces less than last year

Newmont had a real fourth quarter abberration from the Deep Post deposit (an extra 1 million tons of ore), so anything in comparison will look like a drop.

here's what BGM+NEM look like:
(thousands of ounces)
1999 - 4175.5 + 770.0 = 4945.5
2000 - 4940.6 + 783.6 = 5724.2
2001 - 5400 (estimated)

The Bloomberg "reported 400,000 ounce drop" will still leave them producing at 454,500 ounces over the combined BMG/NEM 1999 level.



To: Square_Dealings who wrote (63524)2/7/2001 10:50:35 PM
From: Machaon  Read Replies (2) | Respond to of 116795
 
<< Total gold output ... will fall as mines in Nevada and California produce 400,000 ounces less than last year. >>

Could this drop in production be perceived as causing a future shortage of gold, especially if other gold companies also decide to reduce output? After all, perception is 90% of the game.


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