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

To: Claude Cormier who wrote (1726)	7/24/2001 8:57:15 PM
From: ~digs	Respond to of 4051

Placer Dome earnings up in second quarter; Tuesday July 24, 6:53 pm Eastern Time VANCOUVER, British Columbia, July 24 (Reuters) - Placer Dome Inc. (Toronto:PDG.TO - news) (NYSE:PDG - news), one of North America's top tier gold mining companies, posted higher second-quarter earnings on Tuesday despite stagnant gold prices, which continued to hurt North American producers. Canadian-based Placer, which has operations in 15 countries, reported net earnings of $33 million, or 10 cents a share, up from a net loss of $71 million, or 22 cents a share, in the corresponding period a year earlier. The company's results in the second quarter of 2000, included a writedown on its Las Cristinas project in Venezuela, which it recently agreed to sell to a Vancouver junior gold miner. Analysts were expecting earnings in the range of 5 cents to 10 cents a share, with a consensus of 8 cents for the quarter ended June 30, according to Thomson Financial/First Call. Placer Dome said it produced 747,000 ounces of gold in the quarter at a cash cost of $151 an ounce, up from production of 715,000 ounces at a cash cost of $163 a year earlier. Total costs in the period were $219 per ounce, down from $230 a year earlier. The company said mine operating earnings in the quarter were $89 million and cash flow from operations of $101 million, compared with operating earnings of $113 million and cash flow of $103 million in the corresponding period of 2000. Placer Dome said its gold forward sales program realized an average price of $316 per ounce in the first half of 2001, compared with the average spot price of $266 per ounce in the period. It had an average realized price of $349 an ounce and a spot price of $285 an ounce. Placer shares have gained more than 9 percent so far this year, closing on Tuesday at C$16.81, up 89 Canadian cents, on the Toronto Stock Exchange. The shares have slightly underperformed the TSE's gold and precious minerals index, which has risen 10 percent over the period. ($1 equals $1.54 Canadian) biz.yahoo.com

To: Claude Cormier who wrote (1726)	7/24/2001 9:43:25 PM
From: Stephen O	Respond to of 4051

re Black hawk They may show the mark to market with their quarterly reports. Of course the reason for them selling the calls initially was to generate the money to buy puts. The puts were sold in April and the cash raised and cash on hand was used to pay off the Standard Bank loan in full. Therefore they have no more need for the calls to be outstanding other than the cost to buy them back. Perhaps that is what they will consider doing. The calls are so many per month and of course OTC. There is now about 18 months left to go in total..