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

To: Stephen O who wrote (1635)	7/17/2001 7:50:53 PM
From: russwinter	Read Replies (1) \| Respond to of 4051

Couple more companies: Goldcorp: $4 million on exploration this year. Red Lake: 440K production @ cc 55, 3.5 million reserves likely expandable. Obviously a "Good". Glamis: 188K production, despite GLG's reputation as an aggressive mid tier, only spent 265K on exploration in 1st quarter. The Good: San Martin 115K @ c.c 150, mine life to 2010 The Bad: Rand 75K @ c.c 219, depleted 2003. Imperial has a 3 million reserves but serious permitting difficulties (Calf) Prospects: GLG has some good prospects (Marigold, Cerro San Pedro) and I guess I'd be a little more excited about them if this company actually did serious exploration. But what can $1 million do?. Also gold exploration numbers. Peak was $3 billion in 1997. It was $1.1 billion last year. Don't know about the whole industry but I've been posting on a number of major companies and it's down by my count 32% in the first quarter for them, so 2001 looks like a bigger downer ($750 million). Using Hathaway's $25/oz discovery cost we can extrapolate that 30 million oz will be found in 2001, about 36% of total production. Here's on MDG views it, see slide 31: meridiangold.com