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

To: russwinter who wrote (1176)	5/30/2001 10:29:18 AM
From: Claude Cormier	Read Replies (2) \| Respond to of 4051

Russ, A bunch of good reasons that explain why gold prices will explode in coming years.

To: russwinter who wrote (1176)	5/30/2001 3:38:21 PM
From: goldsheet	Respond to of 4051

<<He felt the top 3 companies in gold mining are financial firms not mining>> He would have to include his own firm. No operations after selling Ken Synder, only royalties and investments. It is either a "closed end mutual" or a "mining investment bank". You have heard me suggest they should accept their role as the later and begin serious worldwide investments in projects and firms (like Metallica) I would rather see tham invest their $C900+ million in 30 diversified projects than waste it on one acquistion.

To: russwinter who wrote (1176)	5/30/2001 5:17:36 PM
From: goldsheet	Read Replies (3) \| Respond to of 4051

Miners have done great job of trying to survive. Their ability to reduce costs is definitely the major factor in not realizing the production cuts one might have expected by now. "The ability of the world's gold producers to survive the slide in the gold price by trimming fat is the story behind recent industry figures released by Australian research house AME Mineral Economics. A key finding of AME's research is that the average cash cost of production of 164 mines polled in its survey – representing more than two-thirds of Western world output – fell $12.00 per ounce for the 2000 calendar year to a total of $166 per ounce, a decline of almost seven per cent. The cash cost improvements between the 1996 and 2000 calendar years is even more striking, particularly in Australia and South Africa, which collectively account for one third of the world's output. AME's gold analyst, Trevor Woolfe, says there has been a $99.00 per ounce fall in Australian cash costs over that period to $200 per ounce, a 33 per cent improvement. In South Africa, cash costs are 30 per cent lower, down some $98.00 per ounce to $229 per ounce." Full story: m1.mny.co.za