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

To: IngotWeTrust who wrote (74209)	7/30/2001 8:05:57 PM
From: russwinter	Read Replies (1) \| Respond to of 116815

<reserves for how few bucks> I visit regularly with a number of the regular suspects that ABX or others might buy, and I can assure you they are not going sell the ounces that ABX requires for a few bucks an ounce. What the majors need to be concerned about is the lack of big, superlative (under 125 cash cost) deposits available. I can count them on LESS than one hand, and they will go for a premium. They may take a shot at the 125-150 deposits and get them a bit cheaper, and I can count those on less than two hands, but most have more work to do. Or you can do what Rio Tinto is doing and start drilling, and maybe something like Cukurdere might materialize. Since the majors aren't really doing that, it leaves a handful of superlative, producing mines, and those will go for a mint as well. But that doesn't add to total production, it just reshuffles deck chairs on the Titanic. Bottom line: great deposits and mines are scarce and expensive. Let me throw it back at you. What does ABX (or others)buy and how much will they pay?