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

To: d:oug who wrote (1651)	7/19/2001 8:37:48 AM
From: russwinter	Respond to of 4051

I think his observation about many or some mines historically having "backpocket" ounces is a reasonable one. That was especially true when POG was higher because the threshold to clear is lower. But, when the high jump bar is set where it is now, you're going to get more and more setbacks with that approach, particularly with these older worked over deposits. He mentioned a couple Canadian names, but I'd point out that expansion to mine new ounces in those operations is an expensive proposition. I don't think too many companies will do it at these prices. The other necessary ingredient is that you have to explore for it, and I've been posting the cold hard numbers on that score. Nothing ventured, nothing gained.