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

To: goldsheet who wrote (70579)	5/29/2001 8:48:59 AM
From: russwinter	Read Replies (1) \| Respond to of 116753

I agree with the names expect perhaps Cerro Casale (need some help from Cu there), but little will be on line within a year of 350. You could add advanced names like Rosia Montana, Delores, Ntotoroso, Olympias (?)and Kisladag with another lag too. But I would characterize this as "replacement" of old depleting production, not "new" incremental supply. I definitely feel the emphasis will be on newer low cost deposits, and not just restarting old high cost mines. The former cushions price volatility better and eliminates the need for hedging (which will become an even bigger negative issue with investor and capital pools when the market hits the 350 level). What happened to your evolving individual mine production list? Couldn't find it at Goldsheets.

To: goldsheet who wrote (70579)	5/29/2001 8:55:47 AM
From: Ken Benes	Read Replies (1) \| Respond to of 116753

You hit the nail on the head. So much enthusiasm, so much excitement that the fundamentals have shifted and gold is about to rise and the gold bug rewarded. Unfortunately, as you succinctly pointed out, supply is not a problem. Should the price rise, more gold will become available very quickly and cap the rises. The producers who cannot add accurately with a calculator having one inch square buttons, stand ready and able to unleash a squadron of earth movers on the planet to bring more production forward. The current status of the gold market is about the producers and continues to be about a childlike group of managers who never outgrew their pail and shovel days on the beach. End of story. Ken