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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (589)	2/11/2001 6:59:05 AM
From: Richard Mazzarella	Respond to of 4051

Bob, <<Barrick/Newmont almost happened over a decade ago.>> I suspect that's the thinking to unwind any hedging potentially suffered on higher POG. The hedgers just buy the weaker unhedged at the bottom.

To: goldsheet who wrote (589)	2/12/2001 10:02:03 AM
From: russwinter	Read Replies (1) \| Respond to of 4051

Bob, does this Aussie production for 2000 seem in line with what you expected? I think it is an area to watch because of the aggressive hedging and cost structure there. A stronger Aussie dollar would spell trouble for a portion of this output. DJ Australia's 2000 Gold Output 8.55 Mln Oz, -1.3% On Yr SYDNEY (Dow Jones)--Australian gold mines produced a total 8.55 million ounces in calendar 2000, down 1.3% from 8.66 million ounces in 1999, the Australian Gold Council said Monday. The average cost of production for 2000 was A$328/oz, up from A$320/oz in 1999. The council also released production figures for the December quarter, which showed production fell slightly to 2.16 million ounces from 2.17 million ounces in the September quarter. Normandy Mining Ltd. (A.NDY) remained Australia's largest gold producer in the December quarter with its Superpit operation producing 182,364 ounces compared with 194,869 ounces in the previous quarter. It produced 715,164 ounces of gold for the whole of 2000.